Sir / madam.
I am currently living in my own house for which I am paying EMI's and claiming Home Loan Tax benefits under Self occupied property. My sister has moved into my house starting this year. I have the following questions.
1. Can my Sister pay rent to me and claim HRA benefits at her company.
2. I am willing to show this rental income in my tax returns in which case ,
- Do my Home loan benefits are categorised under let out property ? ( for which there is no upper limit for Housing interest deduction )
- What happens to my Home loan principal benefits ( 80c ) in this case ?
Looking forward to your responses.
Thanks
Arun
