If a person live in a house taken on rent and also have own house in Delhi which was financed through housing loan. Pls let me know that whether he can avail the benefit of both HRA as well as interest on housing loan.
13 Replies
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 18 May 2010
he may claim deduction for both
u/s 80C for Housing Loan Repayment and as HRA for Rent paid by him.......
C.Balaji
(Learner)
(1867 Points)
Replied 18 May 2010
Yes...Agree with Mr.Love Arora....
Deduction u/s 80C and HRA can be claimed....This is logical treatment....
Acc. to me he should not stay in a rented house in a city where he own a house(logical) or he must have some explanation / proof / evidence for staying in a rented house in the same city...
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 18 May 2010
yes...... agree with C. Balaji........
sksrinivas2009
(Asst Manager-Accounts)
(44 Points)
Replied 19 May 2010
Yes, Mr Arora and Mr Balaji both are correct.
Pradip Narsingani
(Income Tax & GST Consultant/ CA-Final)
(572 Points)
Replied 19 May 2010
agree with C.BALAJI and LOVE ARORA
Piyush Tanwar
(Assistant Manager - Accounts)
(1432 Points)
Replied 19 May 2010
i m agree with Mr. love arora
Nitin Grover
(CS)
(1228 Points)
Replied 19 May 2010
Dear Friends
Mahesh pls descibe why he is not living in his house if he have house in the same city.
then he have to show this house for using income from house property (if not under constuction)
and max int u\s 24 b is 1.50 lac if not let out other wise no limit.
Regards
rahul
(student)
(151 Points)
Replied 19 May 2010
| Originally posted by : Nitin Grover | ||
 |
Dear Friends Mahesh pls descibe why he is not living in his house if he have house in the same city. then he have to show this house for using income from house property (if not under constuction) and max int u\s 24 b is 1.50 lac if not let out other wise no limit. Regards |
 |
max. limit of deduction u/s 24(b) of Rs1.50 lacs is for house property which is self occupied otherwise there is no limit for H.P. which is let out or deemed to b let out
Nitin Grover
(CS)
(1228 Points)
Replied 19 May 2010
Dear Friend
i also said same thing
Deduction u/s 24b is 1.50 if not let out and no limit otherwise/in other case (Letout means House on rent or deemed as)
Regards
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 20 May 2010
thnk u all for supporting the answer unanimously......
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