Hra and housting loan interest claim

This query is : Resolved

Raman Kumar Dubey (Querist)
Follow

22 September 2016 Hi,

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.

Deepti Asawa

Deepti Asawa (Expert)
Follow

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

Message likes : 1 times

Kaushik Joshi

Kaushik Joshi (Expert)
Follow

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.

Upgrade to CAclubindia Pro. Subscribe Now!

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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