{"id":10272,"date":"2020-12-25T14:28:29","date_gmt":"2020-12-25T08:58:29","guid":{"rendered":"https:\/\/www.mintyapp.in\/blog\/?p=9515"},"modified":"2024-09-30T14:38:14","modified_gmt":"2024-09-30T09:08:14","slug":"episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans","status":"publish","type":"post","link":"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/","title":{"rendered":"Tax Benefit on HRA vs Home loans- FFC EP 2"},"content":{"rendered":"\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Friday First Cut - Episode 02 - Tax Benefit on HRA vs Home loans\" width=\"940\" height=\"529\" src=\"https:\/\/www.youtube.com\/embed\/6UbYYxQWKwk?start=3&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen class=\"no-lazyload\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">House Rent Allowance Vs Home Loan<\/span><\/strong><\/p>\n\n\n\n<p>Taxpayers would like to know their entitlement to deductions towards the payments for housing accommodation and their entitlement for house rent exemption.<\/p>\n\n\n\n<p><strong><span style=\"text-decoration: underline;\">Tax Benefit on House Rent Allowance<\/span><\/strong><br>An allowance that is provided by an employer to the employee to cover the expenses of the accommodation rent which the employee may incur for his housing purpose is known as House Rent Allowance (HRA). The House Rent Allowance which is waged by the employer to the employee is taxable under the head of \u201cIncome from Salaries\u201d<\/p>\n\n\n\n<p>As per the Income Tax Act of India, the employee\/assessed is exempted from paying income tax return online that\u2019s why House Rent Allowance has picked up such a great amount of significance in the late years.<br>Formula = HRA received \u2013 (less) Exempt  = Taxable Amount.<\/p>\n\n\n\n<p><br><span style=\"text-decoration: underline;\"><strong>Tax Benefit on Home loans<\/strong><\/span><br>Under section 80C of the Income Tax Act, the maximum deduction allowed for the repayment of the principal amount of home loan is Rs. 1.5 lakh. Deduction under section 80C also includes investments done in the PPF Account, Equity Oriented Mutual funds, Tax Saving Fixed Deposits, National Savings Certificate, etc. subject to the maximum of Rs. 1.5 lakhs.<br>Besides this, there are stamp duty and registration charges that one can claim under the aforementioned section. Though, the claim can only take place in the year in which the payment has been made.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>House Rent Allowance Vs Home Loan Taxpayers would like to know their entitlement to deductions towards the payments for housing accommodation and their entitlement for house rent exemption. Tax Benefit on House Rent AllowanceAn allowance that is provided by an employer to the employee to cover the expenses of the accommodation rent which the employee [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":9520,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[809],"tags":[810,425,480,316],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tax Benefit on HRA vs Home loans- FFC EP 2 - Fintoo Blog<\/title>\n<meta name=\"description\" content=\"Friday First Cut is an interesting series of videos that will help you plan your finances right with today topic being HRA vs Home loans\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Benefit on HRA vs Home loans- FFC EP 2 - Fintoo Blog\" \/>\n<meta property=\"og:description\" content=\"Friday First Cut is an interesting series of videos that will help you plan your finances right with today topic being HRA vs Home loans\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\" \/>\n<meta property=\"og:site_name\" content=\"Fintoo Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/fintooapp\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-25T08:58:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-30T09:08:14+00:00\" \/>\n<meta name=\"author\" content=\"Nidhi Manchanda\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@FintooApp\" \/>\n<meta name=\"twitter:site\" content=\"@FintooApp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nidhi Manchanda\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\"},\"author\":{\"name\":\"Nidhi Manchanda\",\"@id\":\"https:\/\/blog.fintoo.in\/blog\/#\/schema\/person\/15696107a9a027cf8cfe4723332c8384\"},\"headline\":\"Tax Benefit on HRA vs Home loans- FFC EP 2\",\"datePublished\":\"2020-12-25T08:58:29+00:00\",\"dateModified\":\"2024-09-30T09:08:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\"},\"wordCount\":245,\"publisher\":{\"@id\":\"https:\/\/blog.fintoo.in\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/#primaryimage\"},\"thumbnailUrl\":\"\",\"keywords\":[\"HRA\",\"Tax\",\"Tax benefit on home loans\",\"Tax Benefits\"],\"articleSection\":[\"Friday First Cut\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\",\"url\":\"https:\/\/blog.fintoo.in\/blog\/episode-002-friday-first-cut-tax-benefit-on-hra-vs-home-loans\/\",\"name\":\"Tax Benefit on HRA vs Home loans- FFC EP 2 - 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