Benefit of Self occupied property & Rent
This query is : Resolved
19 November 2007
Hi,
My query is, a man is living in Mumbai & has taken a loan for his flat. He is paying interest & gets a Deduction u/s.24B for interest on house property. Now in the same year if he is transferred, for employment purpose in Delhi & has taken a room on rent in Delhi for which the company is paying him House Rent allowance. For Assessment Year 2008-09 can he claim the deduction u/s. 24B and House Rent allowance u/s.10(13A)
My query is, a man is living in Mumbai & has taken a loan for his flat. He is paying interest & gets a Deduction u/s.24B for interest on house property. Now in the same year if he is transferred, for employment purpose in Delhi & has taken a room on rent in Delhi for which the company is paying him House Rent allowance. For Assessment Year 2008-09 can he claim the deduction u/s. 24B and House Rent allowance u/s.10(13A)
19 November 2007
yes u can claim both for deduction the whole year can be claimed and for 10 (13a) the claculation will be made accordingly
19 November 2007
I feel that you can claim the both the benefits i.e. HRA as well as int.for self occupied property.I think one circular was there which says that,if the assessee stayed in some other places due to his employment,he can have these two benefits simultaneously.I will sent the circular to you later.
20 November 2007
yes, you can claim both. There are well settled case laws also on this.
The only condition should be checked is the assesse is not staing in his own house because he has to stay otherwise dut to occupation.
you can claim both
The only condition should be checked is the assesse is not staing in his own house because he has to stay otherwise dut to occupation.
you can claim both
20 November 2007
Yes. Please visit https://www.apnaloan.com/taxtips/home-loan-india/taxdeductionbenefitsforhlhra.html and study the Home Loan Tax Tip under caption "Simultaneous tax deduction benefits for home loan and HRA" for very exhaustive discussion on the subject
21 November 2007
why is depreciation calculated seperately under the companies Act & Income tax Act?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Portuguese Civil Code IT Return
- Taxability of Partnership firm for FY 2025-26
- GST Rate for Catering Services
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- TDS AND ITR ISSUE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
