Can I claim HRA if I live with parents and pay rent?

Yes, you can pay rent to your parents and claim HRA. Ensure you have a rent agreement and your parents show the rent as income in their ITR.

Can I claim both home loan interest and HRA?

Yes, if you own a home but live in a rented house due to work, you can claim both HRA and home loan interest. The property must be treated as "deemed let out" or you can claim interest on a self-occupied property.

What is the maximum deduction under 80C?

The maximum deduction under Section 80C is ₹1.5 Lakh per financial year. This includes PPF, ELSS, life insurance, NSC, and principal repayment of home loan.

Can I claim 80C for home loan principal if I have a joint loan?

Yes, each co-borrower can claim the principal repayment proportionally to their share in the loan. Ensure you have the loan statement and co-owner details.

What if I miss the ITR deadline?

You can file a belated return with a late fee of ₹5,000 (₹1,000 for small taxpayers). However, you cannot claim certain deductions or carry forward losses.

Income Tax

Claim HRA, Home Loan & 80C for Higher Tax Refund in 2026

Maximize your tax refund in 2026 by claiming HRA, Home Loan interest & 80C deductions. Legal guide for Delhi NCR taxpayers. Expert tips from Liquetax.

What this guide covers

What does Claim HRA, Home Loan & 80C for Higher Tax Refund in mean in practice?
Who is affected and what should they check first?
Which documents or records should be kept ready?
What common mistakes should be avoided?