Dear All,
Whether any employee can claim tax benefit for both House Rent Allowance as well as Interest on Housing Loan on Self occupied property.
If so then what are the document we should collect from employee in this
Thanks
Mahalingam R
Mahalingam R (Manager - Finance) (121 Points)
06 May 2014Dear All,
Whether any employee can claim tax benefit for both House Rent Allowance as well as Interest on Housing Loan on Self occupied property.
If so then what are the document we should collect from employee in this
Thanks
Mahalingam R
Mihir
(Wealth Manager)
(5293 Points)
Replied 07 May 2014
If you have availed housing loan in your self-occupied property, you may claim interest deduction u/s 24 in your ITR. But HRA will become taxable as you are not actually paying rent.