I am living in Hyderabad on rent from last 6 months. Recently I have bought a house in delhi on loan for self acquisition purpose. Can i take the benefits of both the HRA and Interest on Home Loan.
Sumit (Service) (45 Points)
11 April 2008I am living in Hyderabad on rent from last 6 months. Recently I have bought a house in delhi on loan for self acquisition purpose. Can i take the benefits of both the HRA and Interest on Home Loan.
Sathyanarayana.B
(Senior Executive- Finance)
(49 Points)
Replied 11 April 2008
No one can take exemption/deduction on HRA and interest on HL simultaneously. If he receives HRA ,when he is living in self occupaid house, is fully taxable and can not claim exemtion u/s 10(13A). But for first 6 months he can claim HRA exemtion.
Jitender
(Chartered Accountant)
(8724 Points)
Replied 12 April 2008
u can claim both the benefits simultaneously.
Gupta Mohit
(CA)
(824 Points)
Replied 07 May 2008
since location is different cities so can get the benifit of both
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