Hra

Tax queries 447 views 4 replies

VIKAS.A

SOMETHING IS BETTER THAN NOTHING

1095 Points Joined December 2012

A PERSON CLAIMING HRA IN ONE CITY AND HAVE OWN PROPERTY IN ANOTHER CITY ,

NOW CAN THAT HOME BE TREATED AS SELF OCCUPIED PROPEERTY OR IT SHOULD BE TREATED AS DEEMED TO BE LET OUT,

EXPLAIN WITH CASE LAWS REGARDING IT,

THANK U.

Replies (4)

Guest

According to section 23 (2) (b)....

The annual value of such a property would be taken to be NIL subject to the following conditions:

• The assessee must be owner of only one house property.

• He is not able to occupy the house property because of his employment, business etc. being away from place where the property is situated.

• The property should not have been actually let.

• He has to reside at the place of employment in a building not belonging to him.

• He does not derive any other benefit from the property not occupied.

VIKAS.A

SOMETHING IS BETTER THAN NOTHING

1095 Points Joined December 2012

will u please provide any link regarding this,

thank u

Guest

I could not find any case laws regarding this....

As per my understanding that person......

1. can claim HRA and

2. also claim annual value of his own property as NIL if he satisfies the above conditions.

Sunshine

Helping All

10575 Points Joined March 2010

Hie,

An assessee can avail benefits of both- HRA u/s 10(13A) as well as SOP u/s 23(2) (b).... provided... he has a house property (not let out ) in a different city and he recides in some other place owing to his employment/business,etc. and actually pays rent for the same..

agreed with the views of ISKP..