Claiming HRA and interst on Housing loan
This query is : Resolved
20 March 2010
Dear Friends please clarify my doubt.
My name is bhaskar working as accountant in pvt. company.
Our company is paying one of our employee a rent free guest house the employee has recently taken housing loan and brought a house and now presently he is staying in his own house.
Now the employee asking me to give him the following benefits.
1. HRA for which he showing me rental receipts i.e. proof of his rent payment.
2. The house is occupeied by him only.however he is asking me to give him the benefit under 80c for repayment of housing loan and interest on that u/s 24b.
my doubt is whether he is eligible both for HRA and benefit under section 80c and u/s 24b ? or I have to treat the company provided house as a perq and to added to salary ? by ignoring the benefit of HRA and only giving housing loan benefit pleae clarify my doubt.
My name is bhaskar working as accountant in pvt. company.
Our company is paying one of our employee a rent free guest house the employee has recently taken housing loan and brought a house and now presently he is staying in his own house.
Now the employee asking me to give him the following benefits.
1. HRA for which he showing me rental receipts i.e. proof of his rent payment.
2. The house is occupeied by him only.however he is asking me to give him the benefit under 80c for repayment of housing loan and interest on that u/s 24b.
my doubt is whether he is eligible both for HRA and benefit under section 80c and u/s 24b ? or I have to treat the company provided house as a perq and to added to salary ? by ignoring the benefit of HRA and only giving housing loan benefit pleae clarify my doubt.
20 March 2010
if the person is residing in his own house, he can't claim HRA as deduction. He can claim only int. and repayment of house loan.
20 March 2010
Thank you Mr. Gupta for your reply,
In that case what about the rent the company is paying for his accomodation, shall I treat it as perqs and give the deductions for housing loan ?
bhaskar
In that case what about the rent the company is paying for his accomodation, shall I treat it as perqs and give the deductions for housing loan ?
bhaskar
20 March 2010
yes
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
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Gift of mutual fund units to daughter
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- Which ITR To be filed by dentist
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
