HRA and housing loan emi deduction

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This query is : Resolved

C.A.Reshma kochar (Querist)

30 March 2011 Dear team,
Can a person claim both HRA deduction as well as housing loan EMI both at the same time even both rented house and property are in same place (same city) if yes how calculations will go...

HRA deduction is o.k. but i am not getting how emi will be solved like principal amount will be adjusted in section 80c and interest amount can be adjusted in imcome from house property. IF we do this than please tell me how we will do that calculations regarding HP Income..

Please help me..

CA Chandresh Agrawal

CA Chandresh Agrawal (Expert)

30 March 2011 You can claim both benefit

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)

30 March 2011 If you had purchased new house not at your place of employment, then you can claim both the deduction.Since there is a condition which was mentioned for claiming HRA that Assessee , His spouse, or HUF in which he is a memeber does not own any accomodation in such other place and he have to reside in a house for rent

However, you had purchased and constructed a house in or near to the place of employemnt there is no question of claiming HRA..

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