DEDUCTION OF HOUSING LOAN INTEREST & HRA BOTH

HEMAL JANI (Querist) 14 May 2009 This query is : Resolved
I HAVE TAKEN A HOUSE LOAN AND CLAIMING THE INTEREST+PRINCIPAL THEROF AS DEDUCTION FOR TDS PURPOSE. NOW DUE TO SOME REASON I HAVE TO STAY OUTSIDE THAT HOUSE (NEARBY THAT HOUSE IN SAME CITY) IN A RENTED HOUSE.

I WANT TO ASK WHETHER I CAN CLAIM DEDUCTION IN RESPECT HOUSING LOAN INTEREST AS WELL AS HRA EXEMPTION BOTH. DISTANCE FROM MY RENTED HOUSE TO MY OFFICE IS APPROX 10 KMS.

PLS GUIDE.

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A V Vishal (Expert) 14 May 2009
Dear Hemal,

You can claim deduction on H Loan & HRA, provided you declare the rental income of the own House, But strictly speaking you are not supposed to claim HRA if you have a house situated at the place you are employed

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adv. rajeev ( rajoo ) (Expert) 15 May 2009
Dear Hemal,
It is not clear in your ques.,whether have u given that house for rent and it is your SOP ( self occupied Property) if it is sop then u cannot claim HRA, if it is LOP u can claim the deduction in while calculating the income from house property.And the answer given by vishal is correct one.

Vineet (Expert) 11 December 2009
Hemal,

You can very well claim both the deduction without any restriction. There is no mandate under law to restrict your HRA deduction claim in view of your owning house in the same city.

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