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Can I claim HRA if I own a house in the same city?- Property Hotline
Posted
October 28, 2016
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7,279
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October 28, 2016
7,279
36
2
0.52%
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3:44Now PlayingExpert: Kartik Jhaveri - Founder & Director-Transcend Consulting India Private Limited.
Question: Can I claim HRA when I own house in same city and is rented out? Can I pay stamp duty and register a flat for Rs 50 lakhs when I'm paying seller Rs 60 lakhs by cheque?
Answer: The basic requisite for claiming HRA (House Rent Allowance) exemption is that you should be paying a rent for some property. This HRA provision is independent of the fact that you may have one or more houses in the same city. That said if your home is actually let out then you can claim interest deduction to any extent. You need to pay stamp duty on the agreement value or ready reckoner value, whichever is higher.
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