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house property

This query is : Resolved 
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(Querist)
24 January 2011 Hello,

Pl. carify the matter relating to House property income/ loss while computation of salary in the corporate.

As an employee geting salary 10 lcs PA, and also getting the HRA around 12000 pm. should i get the benifit of House propery which is taken on loan which turn to loss of House property.

Details are:

Salary 10 lcs + Per annaum
HRA 12000 pm.


Purchase of flat in G. Noida ( remote area)

which has been let for RS 4000 pM rent & staying in delhi in rented house

C.year Intrest 1.42 lacs + 95000 pre cont pd. intrest ( year wise)

Now pl let me know":

1. Should my loss from H.Prp will be adjusted rom Salary Income.

2. Should i eligible for HRA along with the Benefit of House prop.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
24 January 2011 1. Yes. House property loss is allowed.

2. Since you are not working in the city in which you are having house property, HRA exemption is allowed.
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subhash

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subhash (Querist)
25 January 2011 thanks for advice
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