Repayment of Housing Loan and Principal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2010 We got housing loan in the name of Parvathi and Murugan:

Property in the name of Parvathi sutuated at Delhi & housing loan repayment made by me. Housing loan obtained both the names.

Parvathi my mother she stays in Delhi house, I am working in bangalore and staying at rented house.

My qustion is can i clime HRA, repayment of interest Rs.1.5/- lac and Rs.1/- lac principal amount which is paid by me.

Please advaice and provide notification

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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15 December 2010 Since, you are not the owner of the property u r not eligible to claim deduction u/s 24 towards interest on housing loan. Even you cannot claim deduction u/s 80C towards repayment of housing loan since u r not the owner of the house.

You can claim HRA in your computation since, u r paying rent at bangalore and staying in bangalore.