Abot HRA and Housing loan
This query is : Resolved
20 May 2010
Dear All,
Can we get exemption for both i.e. HRA and Housing loan simultaneously for an individual case? and what can be the scenario under which we can avail this?
Thanks in anticipation!!!
Regards,
Amit
Can we get exemption for both i.e. HRA and Housing loan simultaneously for an individual case? and what can be the scenario under which we can avail this?
Thanks in anticipation!!!
Regards,
Amit
20 May 2010
Yes you can get both.
Suppose, you own a house and has taken loan on it and paying interest and principal payments. However, for job purpose, you are staying in other house on rent.
In that case you can claim HRA for rented house and Deduction for Interest and Principal u/s 24 and 80C for the owned house.
Suppose, you own a house and has taken loan on it and paying interest and principal payments. However, for job purpose, you are staying in other house on rent.
In that case you can claim HRA for rented house and Deduction for Interest and Principal u/s 24 and 80C for the owned house.
20 May 2010
Thans,
But if both the things are in Pune or the same city, then also we can claim?
Regards,
Amit
But if both the things are in Pune or the same city, then also we can claim?
Regards,
Amit
20 May 2010
Yes you can. There is nothing written in IT regarding the city or any place.
20 May 2010
Agreed. You can claim HRA exemption only if you have actually paid the rent for your accommodation.
You can avail deduction for interest & principal repayment of loan, taken for the purpose of purchase of house property (subject to limit).
You can avail deduction for interest & principal repayment of loan, taken for the purpose of purchase of house property (subject to limit).
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
