Deduction

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P.K.DUBEY

P.K.DUBEY (Querist)
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04 February 2011 a person working in delhi has a vacant house in dehradun, he is receiving HRA from his employer in delhi. house in dehradun was constructed through housing loan and he is paying a monthly installment for the same. can he claim HRA from the salary and repayment of loan U/S 80 c from GTI. also he can take the vacant property in dehradun as self occupied?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 February 2011 yes. can be claimed please refer sec.23(2)b for claiming interest & HRA can be claimed for rent payment

P.K.DUBEY

P.K.DUBEY (Querist)
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05 February 2011 sir, disucussing the above case i would like to ask about the repayment of principal amount of the loan. whether the principal amount will be allowed as deduction u/s 80c along with the HRA?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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05 February 2011 Yes. You can avail deduction for Principal repayment as well as interest .

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