Hra for salaried person

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2018 If taxpayer is a salaried person having one residential house property and taking HRA from employer,He purchased that house by taking loan.can he allow 1. HRA deduction from salary and 2. showing loss for payment of interest component in House property head.I mean both HRA deduction and loss on payment of interest can be show at a time.Please clarify.

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2018 case 2: Can he allow HRA deduction and loss on house property if he staying in a rented house and give his own house for rent which was bought by taking bank loan.
ex:Mr x has own house in his native place(bought by taking bank loan) but he worked in some other place staying in a rented house. can he allow both the tax benefits.In such case which ITR 1 OR ITR 2 should file.Please clarify.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 June 2018 Case-2
HRA can be claimed.

Rent received has to be offered as income.

Interest on housing loan can be claimed.

Use ITR-1.

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Amol S Joglekar

Amol S Joglekar (Expert)
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13 June 2018 is he paying any rent ?

Amol S Joglekar

Amol S Joglekar (Expert)
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13 June 2018 if yes, then both the benefits can very well be taken by the assessee.

Querist : Anonymous

Querist : Anonymous (Querist)

13 June 2018 He did not let out his own house his parents are staying in it .But he worked in some other place where he took house for rent.So No Income generated from the House property.Can he claim both the benefits.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 June 2018 yes. He can very well claim the benefits of both. No problem