HRA EXEMPTION
This query is : Resolved
14 April 2011
DEAR COLLEAGUES,
Son (having salary income) is having ownership flat jointly owned with his mother, where son’s family is staying.
While buying the same flat son had availed home loan, son is doing repayment of loan, taking benefit of housing loan interest & repayment.
Now he is paying rent to his mother t for occupying the flat of her portion.
Son is getting HRA from his employer.
Querry:
Can son claim exemption of HRA for rent payment to mother ,though he is also availing tax benefit of housing loan interest & principal repayment?
Regards
Paresh zatakia
9833855518
Son (having salary income) is having ownership flat jointly owned with his mother, where son’s family is staying.
While buying the same flat son had availed home loan, son is doing repayment of loan, taking benefit of housing loan interest & repayment.
Now he is paying rent to his mother t for occupying the flat of her portion.
Son is getting HRA from his employer.
Querry:
Can son claim exemption of HRA for rent payment to mother ,though he is also availing tax benefit of housing loan interest & principal repayment?
Regards
Paresh zatakia
9833855518
14 April 2011
I dont think son can get both the exemption for the same property. Apart from that we are not sure if the son has taken the loan for his share only or for mothers part also and paying the interest on her behalf.
14 April 2011
Also whether the mother staying in the same house only or at different place?
If staying at the same place then rent should be received also in that case.
If staying at the same place then rent should be received also in that case.
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