Hello,
I am planning to buy an apartment for investment. Both my husband and I are working now. After the purchase of the house, I plan to rent it out. Additionally, I will stay in a rented house. In this case, how can either I or my wife (at least one of us) claim House Rent Allowance (HRA)? I am not planning to take a loan to save tax. What can I do? Otherwise, I will end up paying tax on the rent I will earn, without receiving any HRA for my rented place.
Thank you,
Sandeep
From India, Bangalore
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I am planning to buy an apartment for investment. Both my husband and I are working now. After the purchase of the house, I plan to rent it out. Additionally, I will stay in a rented house. In this case, how can either I or my wife (at least one of us) claim House Rent Allowance (HRA)? I am not planning to take a loan to save tax. What can I do? Otherwise, I will end up paying tax on the rent I will earn, without receiving any HRA for my rented place.
Thank you,
Sandeep
From India, Bangalore
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Anyone, please suggest. It's urgent.
Explaining in detail: Buying an apartment in full cash, I have accumulated and put it on rent. Both the husband and wife are working and staying in a 2bhk house, which is rented. Can I claim HRA if I own a house but don't stay in it, but stay in another rented house in the same city?
From India, Bangalore
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Explaining in detail: Buying an apartment in full cash, I have accumulated and put it on rent. Both the husband and wife are working and staying in a 2bhk house, which is rented. Can I claim HRA if I own a house but don't stay in it, but stay in another rented house in the same city?
From India, Bangalore
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What is your company policy for HRA? Are you/wife in any Government/PSU? Depending on your organisation policy it should not be an issue at all.
From India, Pune
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3180From India, Pune
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Sir, I think, it is a subject matter of Income Tax. Hope some one who is doing consultancy in Income Tax may be able to explain or solve the problem of initiator of this thread.
From India, Noida
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From India, Noida
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HRA policy doesnt say much except your are paying rent, HRA can be claimed. Google too doesn’t give me answer for this :(
From India, Bangalore
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From India, Bangalore
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Dear Sandeep Agarwal,
You can always avail HRA as per the terms of the HRA rules since you are staying in a rented house. You will have to disclose your rental income from the house property under the income from other sources chapter when you submit your IT return.
From India, Kolkata
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You can always avail HRA as per the terms of the HRA rules since you are staying in a rented house. You will have to disclose your rental income from the house property under the income from other sources chapter when you submit your IT return.
From India, Kolkata
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HRA – House Rent Allowance.pdf
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