HRA Claim and housing loan repayment
This query is : Resolved
nalinavenkat
(Querist)
23 January 2008
Hello
If a person takes loan from bank for purchase of the house and he starts repayment immediately, but he demolished that house and taken another loan for constrcuction of the house. He is in arented house . My question is whether he can claim HRA as well as Housing loan repayment and interest please ans this....................
If a person takes loan from bank for purchase of the house and he starts repayment immediately, but he demolished that house and taken another loan for constrcuction of the house. He is in arented house . My question is whether he can claim HRA as well as Housing loan repayment and interest please ans this....................
S.Srinivasaraghavan
(Expert)
23 January 2008
First, did he take permission (for demolition)from the institution to whom he had hypothecated th house? This is a pre requite.
The moment he demolishes the house, he is not in the occupation of the house and therefore looses the eligibility to claim the deduction under proviso to section 24.
He can claim HRA benefit subject to the Rules in that regard.
The moment he demolishes the house, he is not in the occupation of the house and therefore looses the eligibility to claim the deduction under proviso to section 24.
He can claim HRA benefit subject to the Rules in that regard.
23 January 2008
A PERSON CAN CLAIM BOTH .THERE ARE NO HASSLES PROVIDED AS POINTED BY SRI SRINIVASARAGHAVAN, THE REQUISITE APPROVALS ARE IN PLACE.
R.V.RAO
R.V.RAO
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