How to Compute the Housing loan benefit if the property is ‘let out’?

[Dinesh]

I have bought a house for which I had taken the home loan but I am not living in that house, instead of using it myself, I have rented it out and I am living in other rented house near my office. Can I claim all the tax benefits and the HRA also?

[Taxman]

I have bought a house for which I had taken the home loan but I am not living in that house, instead of using it myself, I have rented it out and I am living in other rented house near my office. Can I claim all the tax benefits and the HRA also?

You can claim all the tax benefits and the HRA. But just keep in mind that rent received by you is considered as your taxable income.