Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

HRA Exemption

Save Share

This query is : Resolved

Ajay Goswami (Querist)

12 March 2009 Suppose Mr A taken housing loan for a house which is in Baroda but he actually working in Surat and receiving HRA from P Ltd. Co.in surat.

Whether He can claim both
1) HRA exemption by Paying rent in Surat &
2) Repayment of loan
(Principal in 80C and Interest as
house loss )
pl provide the Act Back up for your answer with sections etc.

CA Ravi Kumar Murugesh

CA Ravi Kumar Murugesh (Expert)

12 March 2009 He can claim both.
provided he is getting HRA( House Rent allowance)
He is residing in a rental accomodation
He must not own a house at the place where he is living
The exemption will be least of the following
1. HRA received
2.The excess of rent paid over 10% of salary
3. 40% of salary in all place except Delhi,Calcutta, Bomay,& Madras where it is 50% of salary

K V Subba Rao

K V Subba Rao (Expert)

12 March 2009 Yes. Please check the following link:

https://www.apnaloan.com/home-loan-india/taxdeductionbenefitsforhlhra.html

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now