If a person staying in mumbai on rent basis @ 18,000/- p.m. then he will get the HRA deduction (after calculating that minimum condition).
But if he gets a house at Kolhapur on Housing Loan then which benefit would be taken?
HRA or Housing Interest?
Kindly suggest.
I think so he can claim both the deductions simultaneously.
Housing Interest !! where it come from ?
If the person is staying in mumbai due to employment reason then any house in his name at any other place will be considered as "Self Occupied House Property" and he can get deduction on the Housing Loan Intt u/s 24(b) upto a maximum limit of Rs. 150000/- which is paid/due on loan taken for the purpose of such house. At the same time he can claim HRA exemption u/s 10(13A).
CAclubindia
