House property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 January 2011 Dear All

A person having a house (own ) which is vacant and he is residing in rented house. both are in same city.
(1)My question is can he claim HRA
(2)he is showing notional rent to his own property and claiming Interest for the same (actual interest as LOP).is this coreect or can he show this as SOP ( claiming interest only to 1.5 lakh )

Thanks

CA Nitish Jain

CA Nitish Jain (Expert)
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11 January 2011 1). no deduction for rent paid by him for rented house will be available.
2). he can claim HRA, if the property is taken as LOP.
3). if he show property as SOP, no HRA can be claimed.

in my opinion, he can go for any of the options as in pt. 2 or 3.

clarification still needed on this query..

Querist : Anonymous

Querist : Anonymous (Querist)

12 January 2011 Thank you Sir
Actually he is claiming HRA on the basis of rent by him on the rented property he is residing.

he is showing Notional rent to his own property as it is kept vacant and claim the interest (actual ) .

The assumption is Ok ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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12 January 2011 Yes. Your treatment is ok

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