HRA is fully taxable or not?

Tax queries 1578 views 2 replies

harish .k

STUDING

306 Points Posted on 17 February 2011

Hi friends......

I have a query regading HRA u/s 10(13A) .An Assessee of Central Govt Employee , is receiving HRA i,e, ( 72000 Pa) from Govt and he Let out his own Residential house on Let out basis @ Rs 2700 pm and he is leaving in a Rental house paying Rent @ 5400 pm , My question is that can an assessee can claim Rent paid on his house from the HRA received amount u/s 10(13A) or not.

He is also Availng House loan taken on his residental house and repaying every month EMI around 10000/- pm ,

My query is that he is already having a residental house in the same city and he let out his house on Rental basis and staying in other House on rential basis for the past 2 yrs , can he can claim HRA u/s 10(13A) or his HRA received is fully taxable .

IF any mistakes correct me.

Plz reply

Thanks in Advance

HARISH

Replies (2)

Anuraag Sharma

Sr Executive Finance

845 Points Posted on 17 February 2011

he can claim HRA claim u/s10(13A) immaterail of the fact that he is having his own house in same city

also,

he can claim deduction for interest on house loan paid from Income taxable under the head house property for the house let out.....

Guest

Originally posted by : Anuraag Sharma
	he can claim HRA claim u/s10(13A) immaterail of the fact that he is having his own house in same city also, he can claim deduction for interest on house loan paid from Income taxable under the head house property for the house let out.....