Nitin Katira (Account Officer) (50 Points)
18 June 2014Dear All
Can i claim HRA and House Loan benefit for Income Tax purpose. My house, which was purchased on Loan which is vacant and I am staying in andheri on Rent.(Both are in Andheri) Can i avail Benefit of HRA and Home Loan?
CA Pooja Sharma
(Chartered Accountant)
(192 Points)
Replied 18 June 2014
You can claim HRA and home loan benefits both but in this case even if the house owned by you is left vacant you need to pay taxes on the notional income under the head Income from House Property.
Arpit Pachisia
(CA)
(734 Points)
Replied 18 June 2014
Agreed with Pooja.
You can avail the benefit of both HRA and Home loan. But As stated by you, your one house remains vacant and you live in other house on rent and at same place (andheri). This cannot be pratically possible as when you owned your own house than why you live on rent, this is a clear case of tax evasion as you want to reduce your tax liability by claiming both exemptions which will not be allowed by the income tax authorities. So you will not allowed HRA exemption or otherwise you had to pay notional rent.
Thanking you
CA Pooja Sharma
(Chartered Accountant)
(192 Points)
Replied 18 June 2014
I Think HRA & Home Loan Benefits both can be claimed.
For further clarification you may refer the following link:-
https://www.simpletaxindia.net/2008/03/hra-and-house-loan-in-same-city-can-be.html
ROSHAN PAUL JOSEPH
(CA Final student)
(311 Points)
Replied 18 June 2014
A House Property which is not actually occupied by the owner owing to employment or business/profession carried on at any place [ s.23(2)(b)] will be deemed to be let out if
he resides in the same place where he owns an house property.
Therefore he can claim HRA benefits and Home Loan deductions, after adding income from the deemed to be let out property.
NILA REJESH P
(Chartered Accountant)
(815 Points)
Replied 19 June 2014
Yes, you can claim both at same time.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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