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Hi Priyanka, Yes can consider both deductions as HRA and Interest on Housing Loan (U/S 24), provided the employee should produce a valid possession letter for the said property.
From India, Pune
From India, Pune
Hi Priyanka,
I am of opinion that deductions for HRA is admissible as per rules if one is residing in rented accommodation and if residing in owned house, then HRA is fully taxable. When one is paying House Loan, it implies that he is residing in his own house.
It may be possible, if loaned-house and residence are in different cities.
Thanks
V K Gupta
From India, Panipat
I am of opinion that deductions for HRA is admissible as per rules if one is residing in rented accommodation and if residing in owned house, then HRA is fully taxable. When one is paying House Loan, it implies that he is residing in his own house.
It may be possible, if loaned-house and residence are in different cities.
Thanks
V K Gupta
From India, Panipat
Hi Priyanka, I think it is not possible to claim HRA and Interest on housing loan simultaneously. In case you have not get possession then you can do so. Or both houses are in different cities.
From India, Mumbai
From India, Mumbai
Thank You all for your reply..... But if employee has bought a flat & has the possession certificate, this flat is vacant & Staying in a rent flat elsewhere. Now can we consider both components?
From India, Pune
From India, Pune
In this case employee can claim both home loan exemption as well as HRA deduction. But he has to show rent receipt.
For claiming HRA only two condition has to fulfill:
a) Residential house not in his own name.
b) He has to pay rent.
If aforesaid condition are satisfied employee can claim HRA.
For claiming house loan interest he only need a certificate from the interest payee.
From India, Mumbai
For claiming HRA only two condition has to fulfill:
a) Residential house not in his own name.
b) He has to pay rent.
If aforesaid condition are satisfied employee can claim HRA.
For claiming house loan interest he only need a certificate from the interest payee.
From India, Mumbai
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AMENDMENT IN TDS RULES.doc
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