I have a house in Bangalore for which I have taken a home loan and the house is let out from which I am getting Rental Income. I am staying in a rented house for which I am paying Rent.
Question : Can I claim HRA for the Rent which I am paying and at the same time can I claim the Interest exemption as well which I am paying on my Home Loan.
PS : My own house is in Bangalore and I am staying on Rent also in Bangalore.
22 September 2016
No you cannot claim HRA...because it is a first condition of HRA claim that asseesse not have any house on his own name. But you can claim Interest on House loan
22 September 2016
Dear Mr. Raman Kumar
In order to claim hra, you should not have a house in the same location. if you were working out of Bangalore and having house in Bangalore, then you could have claimed both. As of now, only home loan benefit can be availed.
22 September 2016
10(13A) exemption is denied if assesse stays in his own house. Here the assessee is NOT staying in his own house. On the contrary, he has rented it out. So he can avail the benefits of both ......HRA as well as interest on housing loan
CAclubindia
