Tax Guides on Mittiyo Blogs

Home Loan Interest Deduction (Section 24b): Let-Out vs Self-Occupied

Tue, 23 Jun 2026 10:00:00 +0530

Of all the home loan tax benefits, the interest deduction under Section 24(b) is the largest and the most misunderstood. The confusion almost always comes down to one distinction: is the property self-occupied or let out? That single fact decides whether your deduction is capped at Rs 2,00,000 or effectively unlimited, and how much of it you can actually use this year.

There is also a second trap, the same one that catches HRA and most other deductions: the new tax regime, now the default, removes the self-occupied interest deduction entirely. This guide breaks down exactly how Section 24(b) works for each type of property, the set-off limit that quietly caps the let-out benefit, pre-construction interest, and what survives under each regime.

HRA and Home Loan Together: Can You Claim Both in the Same Year?

Sat, 20 Jun 2026 10:00:00 +0530

It is one of the most common questions at tax-filing time, and one of the most misunderstood: if you are paying rent and also repaying a home loan, can you claim the tax benefits for both in the same year? The short answer is yes. The Income-tax Act treats your rent and your home loan as two separate situations, and nothing stops you from claiming both at once, as long as each claim is genuine.

How to File ITR as a Salaried Tenant: AY 2026-27 Checklist

Thu, 18 Jun 2026 10:00:00 +0530

For a salaried tenant, the income tax return is where two things you have been doing all year, paying rent and earning a salary, finally meet the tax department. Get the order right and it takes an evening. Get it wrong, usually by leaving the regime on default, and you can quietly forfeit your House Rent Allowance and pay thousands more than you needed to.

This is a practical, step-by-step checklist for filing your return for AY 2026-27 (the financial year 2025-26). The deadline for most salaried filers is 31 July 2026. The one thing to internalise before you start: the new tax regime is the default, and it removes HRA. If your tax planning relies on rent, you must actively choose the old regime. Everything below builds around that.