HRA & Home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 December 2009
Can i claim HRA & Home loan deduction at the same time in the return if my home is morethan 50kms from the office
01 December 2009
Yes you can claim both
01 December 2009
Yes, u can claim both HRA and Home Loan deduction at same time. HRA is independent of Home Loan and both are governed by separate sections under IT Act.
rgds/
CA AMitabh Gupta
Indore
ag_ind@rediffmail.com
rgds/
CA AMitabh Gupta
Indore
ag_ind@rediffmail.com
01 December 2009
agree
01 December 2009
Agree
01 December 2009
Agree
02 December 2009
Hi, U/s 10(13A) and Rule 2A, HRA is exempt to the extent of least of following three :
a) 40% or 50% of salary as the case may be
b) HRA received
c) Excess of rent paid over 10% of salary.
It is evident from above Q that employee owns a house property therefore there is no Q of rent payment hence option c (NIL) being the lowest, no exemption will be available for HRA. Yes, the assessee can claim deduction u/s 24(b) and sec. 80C. Regards, CA Shakuntala Chhangani
a) 40% or 50% of salary as the case may be
b) HRA received
c) Excess of rent paid over 10% of salary.
It is evident from above Q that employee owns a house property therefore there is no Q of rent payment hence option c (NIL) being the lowest, no exemption will be available for HRA. Yes, the assessee can claim deduction u/s 24(b) and sec. 80C. Regards, CA Shakuntala Chhangani
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
