Income from house property

the person owns a single house property. since he is working very long distance where he cannot travel everyday to his house. hence he is stayed in a rented house near working place so the property owns by him is occupied by his own parents. Now tell me can he claim both that is the property as self occupied and the deduction u/s 80GG for paying rent:) he is not receiving any HRA.
Replies (4)

I guess Yes,

Both the deduction can be claimed if you satisfy any of the following conditions:

    
1.You should own a house in a city other than your work place.
    
2.You own a house in the same city but reside in a rented accommodation for a genuine reason.



You can claim deduction U/s 80C for housing loan principal repayment and U/s 24 for interest payment of loan taken for your own house.

As well as Rent paid U/S 80GG..

 

You can avail deductions u/s 80GG. You may submit form 10BA.

You are eligible for the least amount given below:

1) Rent paid minus 10% of the adjusted total income

2) Rs. 2000/- pm

3) 25% of adjusted total income

 

Adjusted total income = gross total income - STCG - LTCG - deduction under chapter VI excluding 80G.

 

 

 

Yes, i think you can clain the deduction for rent u/s 80GG

Thank you for your reply:) please clarify and make me clear with the same.. Can he able to claim both of the following or anyone? 1. the Property as self occupied as it is owned by him and 2. deduction u/s 80GG as he is paying rent:)

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