Interest deduction on home loan

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CA R. Mittal (Querist)
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26 August 2013 One of my friend is living in a company provided flat and hence not receiving HRA. Now he is buying a flat in his name in the same city in which he is presently situated. Can he claim deduction in income tax for interest paid on home loan taken ? Here it must be noted that even after buying the flat he will continue living in company's accomodation. In my opinion there is no problem in claiming the deduction. I just want to be sure if i'm correct or not.
Pls help.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 August 2013 Yes, you can claim interest on housing loan deduction u/s24(b) but if you earning any income from such house(i.e let out) then you also have to offer rental income for tax purpose.

OM SAI SRI SAI JAI JAI SAI

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CA R. Mittal

CA R. Mittal (Querist)
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26 August 2013 Thanks sir.
No he is not earning any rental income on it, i.e the flat is kept unoccupied where he go n stay during weekends.

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 August 2013 I.e he also using it for his self use only. I.e not given for rent. So shall be consider it as self occupied property and claim deduction u/s 24(b) upto Maximum of Rs.1,50,000/-

OM SAI SRI SAI JAI JAI SAI

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CA R. Mittal

CA R. Mittal (Querist)
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26 August 2013 Sir, is there any rebate in Registration fees on registration of the flat if a female is a co-holder of the same (in West Bengal)?.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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26 August 2013 I am from Andhra pradesh so i didn't have any idea regarding West Bengal registration charges etc..

OM SAI SRI SAI JAI JAI SAI