Hra and interest on hosing loan exemptions

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Chaitali Yambal (Querist)
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22 January 2014 A person having a house in pune and he is living in the house of father, paying the rent to father. So, claiming HRA Exemption.

His father lives in the house owned by the person, can he claim benefits of Interest as loss from SOP??

Can he claim deduction of the principal paid U/S 80 C??

Please guide...

CA Mohit Bansal

CA Mohit Bansal (Expert)
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22 January 2014 Yes! He is eligible for deduction of interest and principal amt paid

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Chaitali Yambal

Chaitali Yambal (Querist)
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22 January 2014 What if the person having SOP in pune and he is paying rent for living in pune only??

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CA Mohit Bansal

CA Mohit Bansal (Expert)
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22 January 2014 It does not matter whether you are living in that property or not

Chaitali Yambal

Chaitali Yambal (Querist)
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22 January 2014 My question is whether he can take HRA Exemption by showing rent payment and even Interest Deduction by Showing property as Self Occupied??

I mean whether he needs to show the property as Deemed let out and declare some rental Income for claiming the deduction of interest???