A question regarding house rent exemption:
Before start the question few points is given below-
1. Suppose both husband and wife are working as State government employees.
2. A home loan was taken from SBI in the name of both husband and wife( combined account).
3. The benefit of HRA is getting only one( whose HRA is higher) as both are working and staying in the same station.
4. The interest and principal amount of that home loan is being equally divided at the time filling in computation form at u/s 24(i) and u/s 80 c ( repayment of principal amount of HB Loan) respectively.
5. But, the allowances of exempt is not deducted u/s 10(13A) as they stay their own house and both employees are working in the same station.
7. Now, his wife got transferred into another station and both are getting HRA from Govt as both employees are in different station .
8. She is staying in a rented house in her working place and pay her rented amount on monthly basis.
Now my question is :
Can she get deduction of the allowances of exempt u/s 10(13A) as she is paying the rent in her service station along with equal parts of interest and principal amount that have been already deducted.
Kindly clarify Sir along with conditions ?
1. Both are govt. employees and both are staying seperately in a rented premises seperately due to job location.
They can both avail HRA.
Now both have applied jointly for a home loan.
So both are not entitled to get a benefit seperately while filing returns seperately.
CAclubindia
