Could any one help me on my queries mentioned below:
My wife acquired property through bank loan and the property on her name. Husband pays rent to wife which the husband wants to claim tax relief under HRA being received from the employer. The wife wants to show the additional income along with her income and the tax relief for the interest + principal as per the tax laws. It is to state here her interest on housing loan runs to nearly 3 lacs where the income also gets deducted. Is it allowed as per the incometax laws.
Looking for the kind advise.
Best regards
CAclubindia
