Tax on house property
This query is : Resolved
chintamani
(Querist)
04 January 2013
Hi,
My query relates to HP income
Suppose A is residing in the house owned by him and his mother can he claim the exemption of HRA If yes pls guide in reference to formality to be completed to claim HRA?
Second doubt is suppose he wants to buy one house in the name of him and his wife whether he can claim both benefits of HRA & interest on hsg loan
Pls explain in detail
Thanks
My query relates to HP income
Suppose A is residing in the house owned by him and his mother can he claim the exemption of HRA If yes pls guide in reference to formality to be completed to claim HRA?
Second doubt is suppose he wants to buy one house in the name of him and his wife whether he can claim both benefits of HRA & interest on hsg loan
Pls explain in detail
Thanks
04 January 2013
If the assesse is paying the rent then only he can claim the benefits of HRA.
If the assesse has his own house or leaves with his family then he can't claim exemption.
The only exeption is that his place of employement is far from the place of residence.
If the assesse has his own house or leaves with his family then he can't claim exemption.
The only exeption is that his place of employement is far from the place of residence.
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