HRA & Sec. 24 (b)

This query is : Resolved

Abhishek (Querist)
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29 May 2011 Hi!

If I am working in a company in Delhi where i m getting HRA and i am claiming exemption for the rent paid by me.

Now i want to purchase a house property by taking a loan in NCR (Noida, Gurgaon, etc) then whether i was able to claim both HRA exemption and interest paid by me on the loan taken u/s 24 (b).

Also if i purchase a house property in Delhi then whether i was able to claim both HRA exemption and interest paid by me on the loan taken u/s 24 (b)

U S Sharma

U S Sharma (Expert)
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29 May 2011 24(b) is applicable only after completion of house, and once you own a house, your HRA would get taxable,

if you rent out the house property and show the rental in your ITR, then you can claim HRA

Abhishek

Abhishek (Querist)
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30 May 2011 Hi!

But i think if i does not own a house in that city in which i m paying rent then i will be eligible for HRA exemption.

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