Dear Professional Coleagues i have a query that is
one of my client is having salary income and getting HRA from the employer.he is living in bangalore but he is having his own house at Cochin.
Cochin house is constructed with borrowed funds and he is claiming self occupied status and loss on house property also.
my question is: 1. whether he can claim self occupied house property loss and set off it from salary income.
2. if he does as in (1) above, then whether he can produce Rent receipt and get hra exemption.
3. since he is living in a place other than the place where his own house property is situated, can he claim both i.e can rent receipt and get hra exempted and also claim loss from house property showing cochin property as self occupied?
CAclubindia
