H r a calculation -

Mr A is government employee.

1 ) He received HRA of Rs 50000/-. He lives in Nashik on Rental flat

2 ) He have one house property (Flat) at Mumbai  for which he has taken housing loan & same property is let out.

3) He also have one house property (Flat) at Nashik  for which he has taken housing loan & same property is vacant.

Can Mr A take benefit of HRA exemption ?

Can he consider his house property ( at Nashiik Flat ) as self occupied ?

Please clarify

Replies (4)

Hi

 

Yes, 

 

Propert in Nashik can be shown as self occupied propert & Mumbai property is let out for which he is showing Income & claim Int on loan as deduction.

 

Principle repayment of both the house property can be shown as deduction u/s 80C.

 

Thanks!!

He can avail the HRA exemption since he is getting hra of Rs. 50,000 and living in a rented flat.

Not sure what documents to submit being a government employee.

Read more here FAQ

 

Thanks!!

I have received HRA alongwith salary for full FY12-13, but paid rent & provided rent receipts for only 6 months. My employer says that for calculation of HRA exemption u/s 10, Basic Salary & HRA received for only the corresponding period (i.e.,6 months in my case) should be considered, and not the Basic Salary & HRA received for the entire FY12-13.

 

Please advise if what my employer says is correct (with case studies/judgements/articles if possible).

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