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Can i pay rent to parents in jointly owned property?

Tax queries 568 views 2 replies

Hi, 

I purchased a property in joint ownership with my mother and when have defined 50:50 share in the house. Now, the house is self occupied by me. 

1. Can I pay rent to my mother so that she gets rental income for her share of the property?

2. While I pay rent to my mother will I be eligible to take HRA benefit?

3. Since I took loan for the flat will I also be eligible for loan interest payment deduction?

So basically, Will I get both HRA and interest payment tax deduction in this scenario?

PS: I saw multiple version of this query and answers so would appreciate reply with reference to sections. Thanks much!

 

Replies (2)
It's your own property in share, i.e., u are having 50% of share in the property which u are self occupying. Then u cannot pay rent to the self owned property.
Pl some one make this more clear.
Agree with Mr. Nagaraj


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