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Can we claim HRA exemption and home loan benefits

TRIPARNA SENGUPTA (Article assistant ) (23 Points)

18 August 2021

can we claim home loan benefits and HRA allowance in the same city?

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5 Replies

dhruv sood (6 Points)
Replied 18 August 2021

Only deduction you can get

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CA Raj Doshi (Practising CA) (8939 Points)
Replied 18 August 2021

No. Cannot be claimed.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (184664 Points)
Replied 18 August 2021

Yes, provided only if you have genuine reason for that...

Refer: https://www.financialexpress.com/money/income-tax/can-you-claim-both-hra-and-home-loan-tax-benefits/2235917/

Mr. Kamal Verma (10 Points)
Replied 18 August 2021

It's possible theoretically, as the fact in such case will be, assessee has purchased home on home loan but his posting is in another city i.e he has to stay on rent in another case....
Hence here assessee can claim deduction of interest under House property and Hra deduction under salary.....
But no idea about practical application of this

TRIPARNA SENGUPTA (Article assistant ) (23 Points)
Replied 18 August 2021

I think HRA and Home loan benefits can be claimed simultaneously only if the house on which loan is taken has to be under-construction or it has been let out.The above outcome is after reading both the deduction and exemption..