Lata rao (Assistant Manager-Compensation & Benefits) (35 Points)
20 March 2013How can we claim HRA and Housing Loan together. and "m getting rent from my Housing Loan property .Pls tell me the procedure to claim for the exception.
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3469 Points)
Replied 20 March 2013
Lata,
You can claim HRA exemption under section 10(13A) and interest paid on loan for purchase / construction of property under section 24. Income Tax Act does not provide any bar on teh tax payer to claim the dual benefits. Submit the rent receipts to employer for HRA claim. And for interest, certificate issued to borrower by lender on the interest paid/payable. The employer will account for these for TDS calculation under section 192 while paying you salary.
Regards,
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
CAclubindia
