Can one claim hra and own two flats in different locations?

Tax planning 386 views 3 replies
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AM
24 Points Joined June 2014

Hi, I own a flat in Ranchi which is self occupied and live in rent in Gurgaon.I claim tax benefit on intrest paid and claim HRA.Now I am planning to buy one flat in Kolkata and put it on rent. Can someone clarify if i can still claim HRA and how would the income from rent and exemption treated?

 

Regards,

Rajanish

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On 20 June 2014 at 14:19 Report
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CA Final student
311 Points Joined December 2010

You can claim HRA exemptions and Housing loan interest benefits.

Rent from Kolkata property will be computed under the head INCOME FROM HOUSE PROPERTY

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On 20 June 2014 at 20:17
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Student as well as Self-employed
3710 Points Joined September 2007
hra can be claimed till the time period you live in rented property. income from rent of kolkata property will come under income from house property.
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On 20 June 2014 at 22:39
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Wealth Manager
5293 Points Joined December 2008
Yes, you can continue to claim HRA as well as 30% standard deduction from rent received from Kolkata flat.
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On 21 June 2014 at 07:43


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