Hi yes you can. If you are living on rent and also paying a home loan, you can take advantage of claiming tax exemption for both house rent allowance (HRA) and repayment of home loan. All three—HRA, principal repayment and interest payment—can be claimed as exemption under separate sections of the Income-tax Act. However, there are certain conditions that you need to fulfill. If you have bought a house with the help of a home loan and live in another house on rent, you can claim tax benefit for both. But if the house you bought and the house you live in are in the same city, you should have a genuine reason for not living in the house that you own. The reasons could be that the house you own is too far from your workplace, or the commute is very difficult. You may need to provide these explanations to your employer, or the income tax authority in case there is a scrutiny of the details that you have provided. Also, if you have recently bought a house in the city where you live in a rented property, and the new house is still under construction, then you can claim HRA benefits till such time as the new property is completed or not in a condition to live in . The option of claiming both is also available if your own house is rented out and you stay in a rented property. In this case you will have to declare rental on your property as income and pay income tax on that. If your own house is not rented out but vacant, then you need to pay tax on a notional rent on this. Yes, As your house is new constructed then you can show rental income of two to three months (jan , feb and march) and can claim whole interest amount under section 24 for rented house you can cliam whole interest amount ( limit of Rs 2 lakhs is only for self occupied house).