Whether a person can avail benefit of hra and interest

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 October 2014 Whether a person can avail benefit Of HRA and Interest ,when salaried person residing in same city and house used as self occupied property.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 October 2014 benefit of HRA will be available only if the rent against which rent is being paid is not owned by the assessee and used as residence by the assessee. If the owned house is the only house owned by the assessee, it can continued to be shown as self occupied property.

Querist : Anonymous

Querist : Anonymous (Querist)

03 October 2014 sir
whether HRA shall be Taxable and interest on self occupied can be claimed and can be carried forward,

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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03 October 2014 if you are actually paying rent, then HRA deduction can be claimed...otherwise it shall be taxable...

loss from house property can be set off against salary income...any remaining loss can be carried forward...