Doubt on house property

Tax queries 984 views 8 replies

Dear Sirs,

The assesse owns a house in Bangalore and is let out. He stays in a rented house which is located 22 kms from the own house.

 

Can he claim HRA and offer the let out property income for tax ?

 

Please advise,

 

Many thanks,

Sudharm 

Replies (8)

Yes, he claim HRA and offer the let out property income for tax..

Exemption is not available to an assessee who lives in his own house, or in a house for
which he has not incurred the expenditure of rent (for reference you can read sec. 10 (13A) with rule 2A)

YES HE CAN. provided he suffices the condition for claimin HRA and a reasoning to the employer and dept tat the reason of stayin at a rented house is cosa his work.

Hello

Sorry please ignore my earlier message. I was trying to post a new message, but instead replied to your message.

Rajkumar.

Agree with Yogesh Bhandari

agree with MR YOGESH

yes , mr. bhandari is right,, the only condition which debars assesseee to claim HRA exemption is that employee should not reside in his own accommodation .if however , the employee has his own accommodation , but resides in any other rented house , exemption is available to the extent least of the follwoing:-

1.actual HRA received.

2.rent paid minus 10% of salary

3.50%(in case delhi,mumbai,kolkata,chennia) or 40% of the salary.

salary means basic salary+DA(to the extent it forms part of retirement benefits)+commission (if it is based on percentage of turnover).

it is also neccesery that employee has actually paid the rent.

mr. bhandari and mr. deepak is right HRA deduction is claim but not trated selfe occupide asseess own house.

 

 

Yes the Assessee can claim HRA in his salary calculation and he will have to offer income from letting the house property for tax purpose.


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