HRA (House Rrent Allowance) & Interest on Housing Loan FAQ

Page no : 3

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 09 January 2013

Originally posted by : Vishal Varun
	Very Good and Knowledgeble Thanks for sharing nd its true Otherwise people juz downloads file & neber reads it

Rytly said.. However i will definitely post a link to download file.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 09 January 2013

Originally posted by : TusharSampatM.Com CA,CS-FINAL
	explained in easy word...

ThanQ sirji.. i was waiting for ur expert view!! Thanks a ton!!

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 09 January 2013

Originally posted by : Bhargav Nathwani
	Very Informative..

thx Bhai!!!

Deepak Bhagtani (Learner) (462 Points)
Replied 09 January 2013

Thanks for the Info.......................!!!!!!!!!!

CA Mansi Kotecha (Keep Smiling !!) (6890 Points)
Replied 09 January 2013

Great work sirji as always !!

Please keep writing such informative posts..Its means a lot to us

Thnk u

Upgrade to CAclubindia Pro. Subscribe Now!

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 09 January 2013

Originally posted by : Mansi Kotecha
	Great work sirji as always !! Please keep writing such informative posts..Its means a lot to us Thnk u

tankQ ji

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 09 January 2013

Originally posted by : Deepak Bhagtani
	Thanks for the Info.......................!!!!!!!!!!

thx deepakji for feedback!!

Samuel (manager) (40 Points)
Replied 09 January 2013

Thanks. Can you please comment on a little more complex case of benefits on multiple houses at the thread below ?

/forum/hra-and-multiple-house-query-234372.asp#.UO2TJW-yCpA

Osin Roy (Finance Intern at KB Capital Markets Pvt. Ltd.) (123 Points)
Replied 13 January 2013

the illustration made things easier... was really of great help...

Vandana Mulchandani (Finance Manager ) (9227 Points)
Replied 15 January 2013

Very well explained Vaibhav....very useful and informative containing full details and each and every point is well explained...Keep going on and share you knowledge.....it will come in multiples.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

@*CS Siddharth Bumb. * (B.Com, CA Final, CS ) (5270 Points)
Replied 01 February 2013

very nice post bro... really useful information shared... nice efforts...

1 Like

Ashok (None) (26 Points)
Replied 31 October 2013

Hello

I have a query regarding tax exemption on First home loan which is rented out

If a person has purchased a first house and rented this out (and himself is residing on rent also in different house)

Can person claim tax exemption of full interest from Income tax calculation ?

Thanks

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 31 October 2013

Originally posted by : Ashok
	Hello I have a query regarding tax exemption on First home loan which is rented out If a person has purchased a first house and rented this out (and himself is residing on rent also in different house) Can person claim tax exemption of full interest from Income tax calculation ? Thanks

Yes you can claim both!!

Sunil (Owner) (27 Points)
Replied 05 March 2015

Hi Vaibhav,

Let me first thank you for such a wonderfully explained post along with FAQ. I quite loved it.

I have a re-clarification on one of my doubts:

1. Suppose I have a own house and still staying in a rented home in a same city and genuinely because of proximity to work location, I can claim both HRA and home loan tax benefits. But If I have not rented out my own home, how would the tax authorities treat them?

Can I claim full interest benefits considering rental income as NIL or I need to pay basis a notional rent?

Upgrade to CAclubindia Pro. Subscribe Now!

@VaibhavJ (Believe!! Live your dreams!) (33516 Points)
Replied 05 March 2015

You can claim HRA for rent paid by you & also you are not required to add notional rent since you can show one house & self occupied with NIL notinal rent..

Thanks!!

@ VaibhavJ