niteshporwal (article assistant) (63 Points)
08 August 2014
Ajit Bhati
(Chartered Accountant)
(214 Points)
Replied 08 August 2014
Yes. You can get benefit as above stated in your queries.
Ensure that you does not stay in the same property.
1.condition: U/s 10(13A) an employee who is in RECEIPT of HRA, can claim exemption, if he does not live in HIS OWN HOUSE, AND pays RENT in excess of 10 % of his salary.
2. For Interest on Housing Loan for Let out property, You should have offered and declared the Rental receipts and claim actual interest paid on LO property subject to certian condition as specifed in section 23 and 24 and Repayment of Housing Loan U/s80C subject to conditions mentioned therein.
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 08 August 2014
But is this logical & practical,
a person is not living in his own house, rather living in a rented house in same city?
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 08 August 2014
But is this logical & practical,
a person is not living in his own house, rather living in a rented house in same city?
niteshporwal
(article assistant)
(63 Points)
Replied 08 August 2014
niteshporwal
(article assistant)
(63 Points)
Replied 08 August 2014
Stranger
(.)
(5531 Points)
Replied 08 August 2014
Agreed with Ajit Bhati..Only for claiming self occupied property if u do not stay in ur own property due to the fact that ur place of work is far from ur owned property & u stay in a rented premises as well u didn't rented ur owned property. But if ur property is let out then u have to show it u/h "house property" whatever may be the reason for not staying in ur owned property as benefit of self occupation will be lost.
CAclubindia
