HRA

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

Replies (5)

Yes, provided loan should be in name of the employee and debited from his account.

yes if loan is on the name of assessee than he can claim the deduction

If the house is completed then he can claim loss form house property u/s 24.

hra calculation

  actual receive

 rent paid-10%of salary   

 40/50 % of salary which ever is less exemt

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

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