sanjay goyal (aaaaaa) (25 Points)
15 February 2014Dear Sir / Madam,
I am a salaried person and getting HRA from my employer. I am residing in rented house. But I have purchased my own flat also on which I have taken a house loan in the same city. My query is whether i can claim the deduction of HRA (on account of rent paid u/s 10) and also on interest on housing loan U/s 24 both.
Kindly guide.
SUMIT KUMAR JANGID
(CA FINAL STUDENT)
(136 Points)
Replied 15 February 2014
You can claim for HRA if You residing in Rented House, &
You can claim for Interest on House Loan when the House is on Rent or You have Income from That house.
sanjay goyal
(aaaaaa)
(25 Points)
Replied 15 February 2014
can you please confirm the same in case the owned house and rented house and employer, all are in same city.
Badaa
(employee)
(109 Points)
Replied 03 March 2014
You can claim HRA but you have to pay tax on let out property if it is residing in the same city area.
Indiataxfin
(service)
(62 Points)
Replied 20 April 2014
Take the benefit of HRA and loss from house property. Let out property to any relative or family member. U will make a killing in tax saving.....read article
https://www.indiataxfin.com/home-loan-principal-and-interest-income-tax-saving/
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
