Dear Members,
Would like to know if it is possible for a salaried employee to claim deductions of the following at the SAME time: I - HRA that forms part of the package & II - Housing Loan interest and principal payments. Looking forward to the valuable feedback of the learned members on the forum.
Kind Regards.
Hi ,
Would like to know if it is possible for a salaried employee to claim deductions of the following at the SAME time: I - HRA that forms part of the package & II - Housing Loan interest and principal payments. Looking forward to the valuable feedback of the learned members on the forum.
Dear Gajanand & Bharat.
It is possible to claim both, but not in respect of the same house.
The house must be different than your own house, as for getting the benefit of HRA , payment of rent is a
necessary condition.
Residing in your own house not rent is being actually paid and hence entire HRA amount will be taxable. Of course , on this condition you may receive HRA.
CAclubindia
