My query is, a man is living in Mumbai & has taken a loan for his flat. He is paying interest & gets a Deduction u/s.24B for interest on house property. Now in the same year if he is transferred, for employment purpose in Delhi & has taken a room on rent in Delhi for which the company is paying him House Rent allowance. For Assessment Year 2008-09 can he claim the deduction u/s. 24B and House Rent allowance u/s.10(13A)
19 November 2007
I feel that you can claim the both the benefits i.e. HRA as well as int.for self occupied property.I think one circular was there which says that,if the assessee stayed in some other places due to his employment,he can have these two benefits simultaneously.I will sent the circular to you later.
20 November 2007
Yes. Please visit http://www.apnaloan.com/taxtips/home-loan-india/taxdeductionbenefitsforhlhra.html and study the Home Loan Tax Tip under caption "Simultaneous tax deduction benefits for home loan and HRA" for very exhaustive discussion on the subject