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.
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.
CAclubindia
