Whether deduction in respect of rent paid for house taken on rent and interest paid on house property acquired by loan be taken by assessee who is salaried and working in pune?
tripti singh (Student CA Final ) (46 Points)
16 January 2016tripti singh (Student CA Final ) (46 Points)
16 January 2016
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 16 January 2016
If exemption of HRA u/s 10(13A) is claimed, then interest on another property can be claimed provided such other property is let out. If self occupied, then both exemption u/s 10(13A) and deduction for interest u/s 24 cannot be claimed but one of them, whichever beneficial can be claimed.
tripti singh
(Student CA Final )
(46 Points)
Replied 17 January 2016
If there is any other alternative or option to save tax please suggest. Others please reply.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India