An employee gets HRA of Rs 10000/- p.m. He lives in Mumbai on rent. He also pays Rs 150000 p.a. as repayment of loan (including interest) on a house property which is in U.P, where his parents lives.
Can he claim both HRA/Rent and Loan repayment (under Income from House Property and 80 C).
Thanks
Yes, provided loan should be in name of the employee and debited from his account.
If the house is completed then he can claim loss form house property u/s 24.
rent payment whole amount not allowed only interest part allowed deduction u\s 24 of income tax act
and you mentiom deduction u\s 80c
there is not allowed deduction u\s 80c
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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