Hra and home loan

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manojkumargupta (Querist)
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02 July 2013 Sir
i have taken ahome loan and getting housing loan benefit.
The house is located in my city of work place.But i live with my father in other city
The house is registered in my wife name whose emi i am paying.
Now i want to pay house rent to my father in other city(house in my father name)
Can i do the same and claim both hra and house loan benefit.
Kindly help

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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02 July 2013 No. HRA can be claimed only for the house staying by the assessee. so you cannot take HRA benefit for house staying by your parents since it is different city and also you are taking housing loan benefit

manojkumargupta

manojkumargupta (Querist)
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07 July 2013 not satisfied.
on one hand home loan benefit and on other hand hra not allowed.
it seems it is a zero sum game
I am staying with my parrent in other city

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CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 July 2013 Income tax act allows only one deduction either HRA or housing loan, cannot claim both together