Hra and home loan

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Ravindra (Querist)
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18 August 2012 Hello Friends,

I work in Mumbai and pay rent to my father who has a ppty near my office. At the same time now i want to purcase a ready possen falt in Mumbai but not near to my office with an Home Loan.

Since i will not stay in that new flat and will ask my parents to stay and will continue staying in fathers flat and pay rent to him.

My querry is can I claim HRA on the rent paid to my father and can i calim house interest deduction? Since both the property are in Mumbai will i be eligible for both benefits?

Amol S Joglekar

Amol S Joglekar (Expert)
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18 August 2012 Yes. It is well settled proposition that HRA and interest on housing loan can be claimed simultaneously. Going ahead, you need not prove your convenience to anybody. What is convenient is to be decided by you and not by Income Tax Or your employer's accounts department. At the most, income tax may seek clarification that your father is showing the rent as his income or not and the new flat is self occupied or rented???

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