Deduction

Tax queries 521 views 1 replies

can any body tell me if there is a person having a own self constructed house in which he lived and his wife and his childern are livind another house which is a rented house

 and the person and his wife and children are living in a same city.

now that person can both the claim under income tax i. e. he can claim in house property for interest which is on self consutructed and house rent paid in which his wife and children are livining and claim in salary as HRA 

as it is wrong or right if he can  claim both the deductions in his return then plz tell me sec

Thanks

Replies (1)

Mr. Anurag

He can not have the benefit of HRA . There is condition for exemption that he should pay the Rent in which he lives or if he occupies his own house. Hence He can not claim since he is living in his own house.

He can claim payment of interest for self occupied hous u/s 24(b) and if he pays loan installment to notified instituter or bank for H L purpose. can claim repayment of loan u/s 80C to  the ectent of Limit.

surana, Chennai

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