Dear Reader,
I own a house in joint ownership with my father and mother in Mumbai.
We have taken a Home loan for this flat, and I am doing complete repayment. In this house my parents reside with my elder brother and his family.
We have one more flat in the same city, very close to this existing house, which is the name of HUF and father is Karta.
We were facing space constraints so I shifted with my family to this 2nd house which is in name of Karta. Before I shifted in this house it was rented out and rental income was being received in HUF, accordingly income tax returns were filed.
Now, since I have shifted in this house due to space constraints in our 1st house and since I also have to support my dependant parents, can I pay rent to HUF and claim HRA along with Home loan deductions.
Look forward to response.
Regards,
Mudit Raniwala
CAclubindia
