29 May 2013
I stay in rented property and paying rent. I have property in the same city for which i am paying interest on housing loan. But, this property is old (40 years). So, for my safety,i am staying in rented property in the same city.
So, can i claim HRA deduction and interest on housing loan both ?
29 May 2013
How to arrive at notional rent value. Rent amount varies from builiding to building and even within building also, depending on facility and conditions of flat ?
ITO (income tax officer ) have take a notion rental value . and make addition in your income.
you can take rental value as notion rent as same location and same condition property .
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 May 2013
Thanks Rupesh. But still issue remains open. What i should take as notional rent as it is very subjective matter. First i need to assume some notional rent value and than ITO's role comes into picture.