Housing Loan Interest section 24 and HRA

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Sanjay Dhaduti (Querist)
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15 March 2009 I have a housing loan towards which I pay an interest of Rs. 2.4 lacs p.a the house is rented out @Rs.2000 per month. As this current house is far away from my place of work eventhough in the same city I have rented out a house for Rs. 9000 p.m., my company gives me an HRA of Rs. 8000 p.m.

Can I claim tax exemption on HRA (of course as per its specfic rules whichever is lowest of the 3 options) along with full deduction of Rs. 2.4 lacs minus Rs. 24000 rent receipts from my taxable Income.?
How do I need to declare this rent receipts of Rs. 24000 p.a. as my company issues me Form16?

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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15 March 2009 1.Yes U can claim HRA.
2.Your employer will treat 24000/- as income under any other head of income in Form 16.

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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15 March 2009 i support the expert.

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