CLAIM OF INTEREST ON HOUSING LOAN - HRA EXEMPTION

4616 views 11 replies

CAN EMPLOYEE CLAIM DEDUCTION ON INTEREST ON HOUSING LOAN AND CLAIM HRA EXEMPTION(BY SUBMITTING RENT RECEIPT)  IN THE SAME FINANCIAL YEAR IF HE IS LIVING IN THE SAME CITY WHERE HOUSE PROPERTY SITUATED.? wHAT WILL BE  DIFFERENCE IF HOUSE PROPERTY IS SITUATED IN OTHER CITY AND HE IS PAYING RENT AS PLACE OF EMPLOYMENT IS IN OTHER CITY ?

Replies (11)

The house property should not be located in the same city. If in different cities then claim of both possible

Thanks a lot Aditya !

 Oh is there such a restriction sir..i tout only that the assessee shouldnt be the owner and he should have paid the rent were the restrictions..anyway thanx sir

Originally posted by :milind
" CAN EMPLOYEE CLAIM DEDUCTION ON INTEREST ON HOUSING LOAN AND CLAIM HRA EXEMPTION(BY SUBMITTING RENT RECEIPT)  IN THE SAME FINANCIAL YEAR IF HE IS LIVING IN THE SAME CITY WHERE HOUSE PROPERTY SITUATED.? wHAT WILL BE  DIFFERENCE IF HOUSE PROPERTY IS SITUATED IN OTHER CITY AND HE IS PAYING RENT AS PLACE OF EMPLOYMENT IS IN OTHER CITY ? "

In city like Mumbai,Where having a flat at Mulund and residing at Andheri whether will be considered as same city.What will be answer,if the the flat is located at Kalyan
 

If the Assessee claiming HRA the condition is he and his family other than minor chaild can't having any house with in the same city. that is the condition Housing loan interest cocept is different it is irresepct of condition of HRA

Dear CA Aditya,

Do you have any backing, supporting for your statement. Any section, cirular, judgement ? You are requested to kindly provide the same.

Thanks and Regards

CA Nirnajan Laturkar

i think  their is no such prov. that if you are residing in same city in which your own house, you can't claim HRA benifit.

If their is such provision pls. provide detail.

https://www.themoneyquest.com/2008/10/4-ways-to-get-hra-exemption-along-with.html

this article will clear your doubt.

Can the deduction of hra could also be claimed if the assessee stays at other city (may be Rented/owned Property) & works & receives salary in other city???

 

it was written that property should be in some other city and to show as rent recd.... but what if parents reside there...then is it called as SOP property.

Are there in any changes in HRA deduction when place of residence and place of work and let out property is at different locations?

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register