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HRA

Tax queries 752 views 3 replies
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Executive
99 Points Posted on 09 September 2009

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?

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On 09 September 2009 at 15:56 Report
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Chartered Accountant
14245 Points Posted on 09 September 2009

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

 

95 Reply
On 09 September 2009 at 16:15
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student
1922 Points Posted on 09 September 2009

Yes u can claim all

 

9 Reply
On 09 September 2009 at 17:35
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C.A.FINAL
242 Points Posted on 11 September 2009

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

1 Reply
On 11 September 2009 at 10:54


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