Hra & home loan exemption

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 January 2014 Hi,
I ve been gifted a residential property by my mom on which i have taken home loan to construct additional floor.The property is still registered in the name of my mom which shall be passed on to me after her.
Now that I stay on the additional floor with my parents & let out the other floor,the rent of which is collected by my parents.
Can i claim HRA on the part of the property where i stay along with my parents & also the tax benefit on the EMI repaying?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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09 January 2014 EMI repayment benefit you cannot take since the property not in your name. you can claim the HRA exemption as you can pay the rent to parents

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