Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Can I take both HRA and 24(b) Home loan

393 views

Save Share

Join Us Follow Us Add as Source

prakash

B.Com

72 Points Posted on 14 September 2021

Hello Experts,

I have taken home loan from SBI.

Now, Can avail simultaneously HRA and Home loan deductions [ 24(b) and 80C deduction ] in every financial year.

are there any restrictions ?

I will apricate for any help in this regard.

Thanks,

Replies (5)

Quick Summary

This discussion explores whether it's possible to claim both House Rent Allowance (HRA) and home loan tax deductions (Section 24b and 80C) simultaneously. The general consensus is that you can claim both, but only if your place of residence and employment are in different cities. Specific conditions apply to HRA claims, so it's important to ensure you meet all the criteria, particularly regarding not occupying the property yourself.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121546 Points Posted on 14 September 2021

Both cannot be availed simultaneously, unless your place of residence & employment are in different cities. (Or very far off....)

veerendar singh

tax consultant

1829 Points Posted on 14 September 2021

Yes you may take.
there are no such conditions prescribed under 24.

but for hra, there are some conditions. do check whether you satisfy all conditions

CA. Sourav Sarkar

Chartered Accountant

16188 Points Posted on 15 September 2021

Yes you can claim deduction

CA Puja Sharma

Chartered Accountant

3528 Points Posted on 15 September 2021

Yes, you can claim both the deductions provided you can suffice your claim that you are not using the property for your stay. You are under employment in another city.