Hra query

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 January 2013 Dear friends,

Facts

A (first named) and B (second named) (Mother - Son) holds a real estate property in joint names with 50 - 50 % Partnership into the capital contribution

B contributed his proportion by availing loan from bank and A from her own sources. B only resides at the said premises and also avail exemption for the interest portion u/s 24 and principal portion u/s 80 C for the EMIs paid by him. A resides at other premises

Now A demands the half rent from A for permitted him to reside in the joint property and B agrees for the same.

Query

Can B Claim HRA deduction u/s 10(13A) in addition to the exemption for the interest portion u/s 24 and principal portion u/s 80 C for the EMIs paid by him in the above case ??

Mohit Naithani

Mohit Naithani (Expert)
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25 January 2013 An individual can claim both “Exemption of HRA {(Sec 10 (13A) see rule 2A} and Deduction of Interest paid on Housing Loan u/s 24b as per Income Tax Act 1961 together.

There is no hard and fast rule to deny this. But an assess should satisfy the basic terms and condition for the same.

In your case their is relation of Mother and Son between owner and tanent but even this can not deny the exemption. Owner have to show rental income against such receipt.

Above answer is based on differnct articles as i read and i require more reply in this regard.

Dear Author : Good Question..

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