I am having flat on joint name between myself and my father name.
I am the co-owner of the flat. Can i claim HRA stating that, i am paying rent to my father in such joint name.
CMA Poornima Madhava
(CMA)
(13102 Points)
Replied 04 November 2016
I think you cannot pay rent to yourself as you are the co-owner. Since you are the co-owner, it will be treated as self occupied property to the extent of your share. Alternatively, if you let out, rental income to the extent of your share is taxable income for you subject to allowable deductions. Any other view is welcome.
CA shanky pahoja
(accountant)
(615 Points)
Replied 04 November 2016
Well I think if you are able to elaborate that you are also using the part not owned by you or if you have occupied the whole house yau are supposed to pay rent as your father is also co owner.
But I think what matters is that you are able to elaborate and rent paid is justified. also keep section 40 A (2) in mind
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