HRA

Tax queries 679 views 3 replies

1)I have purchased a house by availaing Houseing Loan. Since, the house is far from my Office, for convenience sake, I have shifted to a rented house near my Office. My parents are staying in my own house with no rent. In this case, can I claim Housing load interest, principal and the HRA for my IT claims. If Yes, what is the procedure to claim all the three discussed above?

2) Can I claim my club membership expenses for IT exemption?

Replies (3)

1.   Yes, U can claim all three

  • Principal on House loan- U/s 80C - If u are re paying principal
  • Interest Loan on House - U/s 24(b)- as Your family is occupying and it is seld occupied-
  • HRA u/s 10(13A)  of IT Act, 1961 & Rule 2A of  IT Rules, 1962 -  As all the condition for claiming HRA is satisfied.....

 

 

2. For Club Membership fee- NO NOT ALLLOWED

 

Yes u can claim all

 

Dear Mr. Kumar

If you are a salary employee ,then club membership fee will not  allowed as a deduction from your Total Income .

Thanks & Regards

S.K.Gupta

 

 

Thanks


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