20 November 2013
I would b glad if anyone could tell me how a assessee can claim exempt for hra if residing with parents. I just read an article acc to which I was informed that such a thing is possible. is it true? if so how? and the person can also misuse such benefits na?
21 November 2013
In such a case, one will be entitled for HRA tax exemption, but the owner of the house who may be the parents is assessable for the rental income derived from the house, provided such transaction should be genuine & not with an intention to evade tax.
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