HRA Exemption and Hosing Loan Exemption

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This query is : Resolved

Raghav (Querist)

12 February 2010 Dear Sir,

I wish to know that suppose An Individual is paying the house rent 20,000 p.m. in Mumbai and he is also paying the housing loan amount to Bank due to some reason he is not in his own house and he is paying the EMI. May he get the benefit for HRA exemption as well as housing loan Interest and Principle for both amount in respect of TDS of Salary whether Building is situated inside Mumbai or outside Mumbai.

Thanks & Regards,
Raghav jha

CA Gangadhar Mishra

CA Gangadhar Mishra (Expert)

12 February 2010 HRA & Int paid on Housing loan both benefits can be claimed under income tax act, only and if the place of work and house is located in two different places, secondly the own house is not let out rather self occupied either by him, spouse or his dependent parents.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)

12 February 2010 My view if the employee staying away from the own house beacuse of his employment in different cities. he can claim HRA and Self occupied benefit

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