HRA

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This query is : Resolved

ritika (Querist)

13 February 2009 I purchased a property which is under construction.Can i claim HRA and loss of house property. they both are in the same city.

CA Abhishek Bagaria

CA Abhishek Bagaria (Expert)

13 February 2009 You can claim HRA and Interest on housing loan if both the properties are situated in different city.

K V Subba Rao

K V Subba Rao (Expert)

13 February 2009 So long as property is under construction, you cannot claim Sec 24 and Sec 80C benefits

After construction is completed and "asset" is put to use either for self occupation or letting out, Sec 24 and Sec 80C benefits can be claimed depending on provisions in relevafnt sections

After construction is completed, you are entitled to claim HRA exemption (for house in which you are residing by paying rent to some one else) as well as Sec 24 and Sec 80C benefits (for property owned by you) even if both are situtated within the same town or city PROVIDED your own property has been let out for rent.

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