HRA + Housing loan (let out property)

Tax queries 948 views 1 replies
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finance professional
50 Points Joined December 2008

Hi,

Please check out the below conditions first and then answer my questions.

1. I have a Housing loan but house is let out

2. I am residing in rented accomodation

Both are in same city. In this situation can i claim HRA + housing loan interest and principal. If yes then what are the limits and what all documents i need to produce as proof  for claiming it. 

I know that as my house is let out then rent coming from this is treated as income. So, Do i need to produce any documents for this income.

I would really appreciate if you please solve my query.

Thank you.

Amit

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On 07 September 2009 at 17:40 Report
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CCI STUDENT....
44687 Points Joined January 2009

1) You can cliam Housing loan interest under section 24, if self occupied its 1.5lak, if let out then full interest which you paying..

2) Rent which you getting, have to show under income from house property

3) HRA can claim under section 10...if your salary then you can submit rent receipts to emplyer for hra claimg...

4) Housing principle can claim under section 80c upto 1Lak....

5) If your salaried person have to submit all documents to employer, if not then show to person whom you get returns filing...

6)Your filing online so no need to submit any documents to Department,...


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On 07 September 2009 at 17:55


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