26 October 2007
I want to ask if an employee claimed deduction for HRA (House Rent Allowance), can he claimed deduction U/s. 80C for repayment of housing loan too ( for a owned house)
26 October 2007
YES.HE CAN CLAIM BOTH. BUT THE PLACE OF EMPLOYMENT SHOULD BE FAR AWAY FROM WHERE PROPERTY IS SITUATED. IN OTHER WORDS ,THE JUSTIFICATION FOR THE DOUBLE BENEFIT SHOULD BE PROVIDED. PL. REFER www.taxworry.com www.labnol.org for more details. R.V.RAO
CAclubindia
