HRA & Interest on Loan

This query is : Resolved

Sameer (Querist)
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16 August 2007 I stay and work at Pune & pay rent to my parents. Now I want buy a house at Satara or Kolhapur.
The query is -
Whether I can get both (1) the HRA exemption and (2) Interest on loan (as loss under income from House property) in my return for AY 08-09?

please give your advice and also spcify the provision under Income Tax Act.

CA Mani

CA Mani (Expert)
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17 August 2007 HRA will be allowed under Sec.10(13) of IT Act where as Interest under the head Income from House Property will be allowed U/s.24 of the IT Act.

There is no restriction on HRA & Interest to claim together.

You can claim both interest as well as HRA.

Sameer

Sameer (Querist)
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17 August 2007 Thank you, Mr. Mani.

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