HOUSE RENT & INTEREST ON BOROOWING CAPITAL
This query is : Resolved
02 February 2008
MY QUERY IS AS FOLLOWS
I HAVE A HOUSE IN MY NAME IN GURGAON AND FOR BUYING THAT I HAVE TAKEN LOAN FROM BANK AND PAYING INSTSTALLMENTS. BUT I AM RESIDING IN DELHI AS I HAVE JOB AT THERE.
I AM CLAIMING RENT RECEIPT OF RS 8000/- PER MONTH AND RS. 1,50,000/- AS INTEREST ON HOUSING LOAN.
PLEASE CLARIFY ME THE SAME AS MY IT DEPARTMENT OF COMPNAY DENY TO ACCEPT THE BOTH THINGS AS THEY SAID YOU HAVE TO CLAIM ONLY ONLY ONE BENEFIT. PLEAE SOLVE THE QUERRY AS EARLY AS POSSIBLE. WITH DETIAL OF SECTIONS AND CASE IF ANY.
I HAVE A HOUSE IN MY NAME IN GURGAON AND FOR BUYING THAT I HAVE TAKEN LOAN FROM BANK AND PAYING INSTSTALLMENTS. BUT I AM RESIDING IN DELHI AS I HAVE JOB AT THERE.
I AM CLAIMING RENT RECEIPT OF RS 8000/- PER MONTH AND RS. 1,50,000/- AS INTEREST ON HOUSING LOAN.
PLEASE CLARIFY ME THE SAME AS MY IT DEPARTMENT OF COMPNAY DENY TO ACCEPT THE BOTH THINGS AS THEY SAID YOU HAVE TO CLAIM ONLY ONLY ONE BENEFIT. PLEAE SOLVE THE QUERRY AS EARLY AS POSSIBLE. WITH DETIAL OF SECTIONS AND CASE IF ANY.
03 February 2008
You are entitled claim both, as you have to reside in a different place than the one where your property is located. That is HRA as well as deduction in respect of interest can be claimed.
04 February 2008
You are entitled to claim both.
1.S. 10(13A) r/w Rule 2A talks about HRA. Conditions for claiming HRA
a. You must actually incur the expenditure
b. You must not be the owner of the house wherein you are residing i.e u must not be the owner of the Delhi house.
c. You must be receiving HRA specifically for the purpose of rent.
Nowhere is it stated that u cannot be the owner of another house.
1.S. 10(13A) r/w Rule 2A talks about HRA. Conditions for claiming HRA
a. You must actually incur the expenditure
b. You must not be the owner of the house wherein you are residing i.e u must not be the owner of the Delhi house.
c. You must be receiving HRA specifically for the purpose of rent.
Nowhere is it stated that u cannot be the owner of another house.
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
- Inventory of finished goods
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Tds on building rent monthly
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Applicability of Ind As to associate of associate
- 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
Trending Online Classes
CAclubindia
