Rent/home loan deduction

Save Share

This query is : Resolved

dheeraj kumar (Querist)

08 September 2012 IN MY COMPANY BOTH HUSBAND AND WIFE WORK
HUSBAND HAS TAKEN HOME LOAN FOR HOME IN CITY WHERE THEY ARE DOING JOB AND WANTS TO CLAIM HOME LOAN DEDUCTION

WIFE HAS A HOME IN THE CITY WHERE THEY ARE DOING JOB WHICH IS GIVEN ON RENT @ 5000/P.M. INCOME OF 60000

WIFE IS ALSO PAYING RENT OF 96000 FOR THEIR OWN ACCOMODATION .

NOW CAN I GIVE
HUSBAND :- HOME LOAN DEDUCTION

WIFE : INCOME OF 60000
HRA DEDUCTION FOR RENT PAYMENT OF 96000

AM I CORRECT

PLEASE COFIRM

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

08 September 2012 As per you House is self acquired by the husband and the wife also living in that house then how she will pay rent. I couldn't understand please give clarification.

OM SAI SRI SAI JAI JAI SAI

CA Ilayaraja

CA Ilayaraja (Expert)

08 September 2012 U r correct. Husband and wife are different assessee as per income tax. Wife can claim deduction for HRA if she actually pays rent. She can show the house property income also. And i need one clarification whether the house in which they live belongs to husband????

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

08 September 2012 When she lives with his husband and his owned house she need not to pay rent then how did we consider as rent paid.

OM SAI SRI SAI JAI JAI SAI

dheeraj kumar

dheeraj kumar (Querist)

08 September 2012 Sir

They have one house in the name of wife in the city where they are doing job which is given on rent for yearly income of 60000

they themselves are staying in rented accomodation rent is 96000 per annum. rent is being paid by wife.

i hope now the matter is clear

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

08 September 2012 So now i think husband has another house in his name and taken loan on it and no body are living in such house. Wife has another house and no loan on it and such house is given for rent. Both husband and wife together living in another rented house.

Then in such case wife can claim HRA exemption as well as offer to Income from house property.

OM SAI SRI SAI JAI JAI SAI

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now