Regarding hra

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Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 Mr.X Claiming HRA .Is it Possible to Claim Interest on Housing Loan,Plz Advise

Anand Dad

Anand Dad (Expert)
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06 March 2014 Yes, Mr. X can claim Interest on housing Loan. However he cannot claim the deduction under Sec. 80GG (rent paid)

Anand Dad

Anand Dad (Expert)
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06 March 2014 Deduction Under Sec 80GG is not available if HRA exemption is claimed

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Anand Dad

Anand Dad (Expert)
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06 March 2014 If Deduction u/s 80GG is taken, you cannot take the deductio for the interest on housing Loan.

However if HRA exemption is claimed, The deduction for Interest can be taken u/s 23(2)

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2014 Plz define the simple difference among these three along with 80EE

Nikhil Kaushik

Nikhil Kaushik (Expert)
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07 March 2014 to simplify, you can claim HRA as well as deduction for interest under 24(b). reference to 23(2) above is not necessary.

with regards to 80GG, it doesnt apply to your case.

with reference to 80EE, it shall be available only for Rs 1 lakhs for from AY 2014-15 and if any balance left, then the same can be claimed in AY 2015-16 subject to conditions set out in 80ee(3).