HRA and Home loan Interest benefits

Abhishek (CS) (40 Points)

25 January 2011  

Dear Friends,

I am residing in mumbai and taken a flat on rent for my residential purpose on april 2010 and this rented flat is 5 km from my office. in the month of December 2010 I bought a flat in Thane which is 20 km away from my office . this new flat I have given on rent on the date of possession.

now my company is not allowing me HRA benefit because I have my on flat at Thane. Accounts department told me that I can take only one benefit either HRA or Interest benefit of Rs. 150000/-

But i would like to take both benefits because I am ready to show said flat on rent in my tax return.

My questing is that, Can I get both benefits under the Income Tax Act or not. 

I request you please give reference with your comments.

 

Regards

Abhishek