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Income tax- hra

Rajiv Gupta (manager) (61 Points)

19 December 2016  


I have one flat booked in Gurgaon (under construction, possession not given). It was booked in year 2009. I have been living in Delhi on rent till Oct'16 and have purchased the same flat (in which living on rent) in Nov'16. Till now I was availing HRA benefits for Delhi flat by showing rent receipts and landlord's PAN number. Also, I was availing benefit of Rs 2Lakh on interest part for Gurgaon's flat (loan taken from SBI bank). The Delhi flat is co-owned by me and wife and also loan is borrowed by both (HDFC bank). Now, I need to submit the documents in my office for TDS deduction. Pls help me on below points:

a) Should I show anywhere about Gurgaon property?

b) HRA can be claimed from Apr'16 till Oct'16? As property has been purchased in Nov and currently we are residing there.

c) Can I avail home loan interest benefit (loan HDFC for currently purchased property)? Also me and wife are co-owner and co-borrowers, can I avail 100% interest benefit or 50% only?


Regards, Rajiv

 3 Replies

Nitin Bhuta (Chartered Accountants) (688 Points)
Replied 19 December 2016

Gurgaon property to be reported.

For claiming HRA Exemption as well as Interest on Housing Loan please consult your CA to advise correctly as wrong claim can lead into levy of penalty.


Shivam Jain (Student CA Final ) (92 Points)
Replied 20 December 2016

a) Gurgaon property to be shown as deemed let out under the head "income from house property"
b) hrs can be claimed for the period specified if you rent receipts with you.
c) interest deduction u/s 24(b) can be availed by both upto respective shares ie 50% each.

Shivam Jain (Student CA Final ) (92 Points)
Replied 20 December 2016


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