25 March 2010
If the assessee owns a house on loan and residing elsewhere, then in this case can he be eligible for both interest on housing loan for self occupied house as well as HRA ??
25 March 2010
He is eligible but one thing which is to be kept in mind is that city in which he is paying rent is to be the city of his employment and the owned house is to be in some another city
25 March 2010
Dear Nikhil Gupta Section 23 (2) reads as under: (2) Where the property consists of a house or part of a house which—
(a) is in the occupation of the owner for the purposes of his own residence; or
(b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him,
the annual value of such house or part of the house shall be taken to be nil.
CAclubindia
