Kaustubh (Analyst) (43 Points)
16 November 2009Can we claim interest on housing loan, where the house is vacant (not occupied and not given on rent) because the assessee has taken up employment in other city and the assessee is taking HRA deduction for the rent paid in the city of employment? How much deduction will be available?
saranraj
(CA FINAL)
(419 Points)
Replied 16 November 2009
praveen
(Chartered Accountant)
(6971 Points)
Replied 17 November 2009
Yes deduction can be claimed.
But it must be declared as Let Out Property.
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 25 November 2009
yes u can
Subash Srinivasan
(chartered accountant)
(390 Points)
Replied 27 November 2009
Yes the assesse can claim interest on housing loan if he has taken up employment other than the city where the house is situated interest upto rs.150000
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 27 November 2009
yes u can
G.E.Sudarsan
(Audit Assistant)
(97 Points)
Replied 27 November 2009
the assessee claim either HRA or interest on housing loan, so both HRA and interest on housing loan is not availed at the same time. suppose you have been let out the property you can avail deduction U/S.24 interest paid on housing loan
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