exemption for HRA..
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2010
If the assessee owns a house on loan and residing elsewhere, then in this case can he be eligible for both interest on housing loan for self occupied house as well as HRA ??
25 March 2010
He is eligible but one thing which is to be kept in mind is that city in which he is paying rent is to be the city of his employment and the owned house is to be in some another city
25 March 2010
Both the properties must be located in different cities, then he can claim both.
25 March 2010
If he is residing somewhere else, hen how can it be self occupied by him?
Anyhow, he can claim both HRA and interest
Anyhow, he can claim both HRA and interest
25 March 2010
Dear Nikhil Gupta
Section 23 (2) reads as under:
(2) Where the property consists of a house or part of a house which—
(a) is in the occupation of the owner for the purposes of his own residence; or
(b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him,
the annual value of such house or part of the house shall be taken to be nil.
So exemption will be available u/s 23(2)(b)
Section 23 (2) reads as under:
(2) Where the property consists of a house or part of a house which—
(a) is in the occupation of the owner for the purposes of his own residence; or
(b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him,
the annual value of such house or part of the house shall be taken to be nil.
So exemption will be available u/s 23(2)(b)
27 March 2010
agree with adityaji
28 March 2010
agree.if the assessee is residing different city becasue of employment.he can claim both HRA exemption and Housing interest
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