Treatment of house rent received

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

05 May 2012 i have only one house at chennai or elsewhere which I had let outfor rent .The rent of the house is higher then the rent I pay for the house where I stay now. I have not taken any loan for the house.While filing the IT rent how should I treat this excess rent over my rented house.
whether I can get exemption of IT for the amount of actual rent paid by me and pay only for this excess amount i collect from my house as rent.

Guest

Guest (Expert)

05 May 2012 Show the rent received as income frm HP. The rent paid by u is eligible for deuction as HRA assuming HRA is paid to u by ur employer

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2012 thanks for the reply.I am retired

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Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2012 thanks for the reply.I am retired treatment in this case please