if house in the same city and claiming hra and interst on housing loan

This query is : Resolved

jitender sharma (Querist)
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04 February 2008 MY QUERY IS AS FOLLOWS

I HAVE A HOUSE IN MY NAME IN GURGAON AND FOR BUYING THAT I HAVE TAKEN LOAN FROM BANK AND PAYING INSTSTALLMENTS. BUT I AM RESIDING ON RENT IN GURGAON .

I AM CLAIMING RENT RECEIPT OF RS 8000/- PER MONTH AND RS. 1,50,000/- AS INTEREST ON HOUSING LOAN.
PLEASE CLARIFY ME THE SAME AS MY IT DEPARTMENT OF COMPNAY DENY TO ACCEPT THE BOTH THINGS AS THEY SAID YOU HAVE TO CLAIM ONLY ONLY ONE BENEFIT. PLEAE SOLVE THE QUERRY AS EARLY AS POSSIBLE. WITH DETIAL OF SECTIONS AND CASE IF ANY.

Amit Sharma

Amit Sharma (Expert)
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04 February 2008 Dear Sir,

Very simple logic as to why IT Dept told u that both cannot be claimed.

HRA- is only applicable when u are staying in a rented house

INT:- is applicable when u have a own house.

Hence how can both be availved at the same time.

Hope u understood now....