Tax exemption

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Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2015 Dear Sir,
Please suggest me that,
Employee who is living due to job in XYZ location and his/her family living in ABC location in rental houses, whether for both cases HRA deductions can claim ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

20 January 2015 yes both can be claimed at a time...........

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Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2015 Thanks for your reply sir,

Please tell me that if employee/assessee is not living at ABC location than how can he take exemption for ABC location

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

20 January 2015 even if he is not staying but the rent is paid so income under hp shall be -ve and is allowed.

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2015 Dear sir,
I am not understand it.
Can you please tell me the section for it or any example for it.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

20 January 2015 refer sec 24(b) for payment of interest on self occupied property and sec 10(13A) for house rent allowance.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

20 January 2015 For more details on sec 10(13A):
https://taxguru.in/income-tax/deduction-under-section-1013a-for-house-rent-allowance.html

for more details on sec 24 (b):
https://www.charteredclub.com/tax-benefit-on-home-loan/

https://savers.moneylife.in/blog/article/tax-savings-for-home-loan-interest-under-section-24-b/399.html

https://taxguru.in/tag/section-24/

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Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2015 Dear sir,
Please also tell me that
Whether the possession/completion certificate required for interest benefit under section 80EE

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

20 January 2015 nothing is to be submitted while u claim in itr but when assessment is to be made by ao then he may demand you to produce the same.

Querist : Anonymous

Querist : Anonymous (Querist)

20 January 2015 Thank you sir,
please also suggest me that
Employee had purchased first House in 2013-14 and fulfil all conditions for 80 EE , whether in later year he/she can take benefit u/s 24

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