Hra + interest on borrowed capital u/s 24(iii)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2011
can a salariesed person claim benefit of hra & interest on borrowed capital at the same time.
the case is person himself residing in his relatives home & payng rent to them. and has purchased new home in the same city which is let out on rent by him. and he has borrowd loan for the new flat purchase.so can he claim benefit of hra for the rent he is paying. & can claim interest benefit against let out property even when both properties are in the same city?
the case is person himself residing in his relatives home & payng rent to them. and has purchased new home in the same city which is let out on rent by him. and he has borrowd loan for the new flat purchase.so can he claim benefit of hra for the rent he is paying. & can claim interest benefit against let out property even when both properties are in the same city?
CA PARAS BAFNA
(Expert)
02 August 2011
As he is not claiming his property in the same city as self occupied, he can claim both HRA as well as Interest U/s 24.
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