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Hra (rent) & intrerest of home loan.

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Querist : Anonymous

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Querist : Anonymous (Querist)
19 February 2013 Dear Sir,

Our one employee has taken home loan but not take the possession of home. he lived on rented house.

my query is that can he take the benefit of both -home loan interest & HRA (rent) ???

Please suggest.

Regards,

Rajendra
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s v rajesh

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s v rajesh (Expert)
19 February 2013 hi,
1.if the employee is staying in rented house and paying rent for that he can claim HRA.
2.If employee has taken loan and paying interest he can claim interest u/s.24(b) subject to property should be self occupied/construction should be completed.

If he's not taken possession/nor the property is still under construction then he can't avail the interest benefit.
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