80 c deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2013 I HAVE PURCHASED A PROPERTY IN NOV 2012.IT IS LET OUT.CAN I CLAIM INTEREST ON HOUSING LOAN AND HRA BOTH?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 January 2013 Yes sir, you can claim both.
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For claiming HRA exemption you are supposed to pay rent. If you reside in your own house HRA will be taxable.

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VIPIN GUPTA

VIPIN GUPTA (Expert)
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02 January 2013 Sir you can go through Sec 10 (13A) which will solve your query.

Guest

Guest (Expert)

02 January 2013 Yes, both deductions are allowed.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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18 January 2013 If you purchased a house and let it out by borrowing the funds then the interest is allowed.

If you are not residing in the place where you have purchased the house then HRA is allowable provided you are paying the rent