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HRA exemption and Exemtions & Deductions in c/w Home Loan

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arun

accountant

24 Points Posted on 02 September 2021

i). The Assessee is residing at his Fathers house duly paying house rent @ Rs.14000/- Per month.

ii). The Assessee brought House Property [10year old] in the month of April,2021 by applying Home Loan for Rs.45Lacs. The House Property is situated in Hyderabad. The property is un-occupied,as it require minor repairs. His office place is nearer to the brought out new House Property.

iii). The Assessee has not moved to new House Property and is still residing at his rented house owned by his father.

In this regard, it is requested to clarify the following scenarios.

1. Can the assessee continue to claim HRA exemption, in case he continues to reside at his fathers place. In such case, what other exemptions and deductions, can he claim viz., Sec 24 and Chapter VIA.

2.Can the assessing officer dis-allow the exemption and deductions, if the newly brought out House Property is nearer to the office place.

Regards

Replies (2)

Quick Summary

This discussion explores the complexities of claiming House Rent Allowance (HRA) exemption while living in a rented property, specifically your father's house. It also delves into the potential deductions and exemptions available for a recently purchased home loan property, even if it's currently unoccupied due to minor repairs and is conveniently located near your office. The query seeks clarification on whether these claims are permissible and if an assessing officer could disallow them.