Deduction as to HRA as well as interest u/s 24

This query is : Resolved

CA Sanjay Baheti (Querist)
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19 February 2011 My client being an Individual is working in Delhi in Private Company from which he is getting HRA on Monthly basis.He is living at Delhi on rented House.Also he is having a residential house at Ahmedabad against which he has taken Housing Loan from Sceduled Bank & paying EMI regularly from his income.The House is occupied by his parents who is living at Ahmedabad.

Now Query is whether the assesse can claim both HRA to the extent of exemption u/s 10(13A) from salary income as well as Payment of Interest on Housing Loan u/s 24b of I.T.Act simulteniously or not.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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19 February 2011 Possible. For details pl see https://www.caclubindia.com/articles/hra-housing-loan-interest-deduction-simultaneously-5955.asp

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Guest (Expert)

20 February 2011 Yes, assesse can claim both HRA to the extent of exemption u/s 10(13A) from salary income as well as Payment of Interest on Housing Loan u/s 24b of I.T.Act simulteniously .

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