HRA Deduction and Interest on Home Loan Deduction

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You can generally claim both House Rent Allowance (HRA) deduction and deduction on home loan interest under Section 24(b) simultaneously, provided you meet the specific criteria for each. HRA is for those paying rent and receiving it from an employer, while home loan interest deduction applies to property owners with a mortgage. The income tax portal may restrict simultaneous entry due to specific eligibility checks or if the property is the same, but it's often possible if your rental accommodation and owned property are in different locations.

PRIYANKA

PRIYANKA (Querist)

22 February 2023 Can a person claim HRA deduction as well as Deduction on Interest on Home Loan under section 24(b) simultaneously ? Why is Income Tax Site not permitting to enter both fields together while filing ITR ?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

22 February 2023 Theoretically it is not allowed. But in certain cases it is possible, e.g. when the workplace is in different city then that of house property.
You can file grievance if you are eligible to claim.

CA Sanat Pyne

CA Sanat Pyne (Expert)

06 April 2023 Yes, a person can claim HRA deduction as well as deduction on interest on a home loan under Section 24(b) simultaneously, provided that the conditions for claiming these deductions are met.

HRA deduction can be claimed by an individual who receives HRA from their employer and pays rent for their accommodation. This deduction can be claimed under Section 10(13A) of the Income Tax Act.

On the other hand, deduction on interest on home loan can be claimed by an individual who has taken a home loan for the purpose of purchasing or constructing a residential property. This deduction can be claimed under Section 24(b) of the Income Tax Act.

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