Hra and interest on housing loan
This query is : Resolved
07 April 2014
What if a salaried person has owned a house in one area and lives for a rent in another area, and also had acquired housing loan for his owned house. Can he avail exemptions on both HRA and interest on Housing loan??
Please help
Please help
07 April 2014
you can claim both -the HRA and interest on housing loan.
07 April 2014
Hi nikhil,
In case of joint account the FD int. is taxable in whose hand i.e 1st or 2nd applicant
In case of joint account the FD int. is taxable in whose hand i.e 1st or 2nd applicant
07 April 2014
Deven,
Theoretically, it should be included in the tax return of the person who contributed the amounts lying in the bank account.
However, the banks often deduct taxes against the PAN of the first account holder itself.
In case the actual contributor is the second/third account holder, it would require that you submit declaration under Rule 37BA(2) to the Bank to ensure that TDS is deducted against the contributor's PAN.
Theoretically, it should be included in the tax return of the person who contributed the amounts lying in the bank account.
However, the banks often deduct taxes against the PAN of the first account holder itself.
In case the actual contributor is the second/third account holder, it would require that you submit declaration under Rule 37BA(2) to the Bank to ensure that TDS is deducted against the contributor's PAN.
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