Hello to all
In our Company one manager who has constructed his own house by availing home loan from bank and he has cleared both Principal and installment due to bank and also availed tax benefit u/s 24b and 94C towards Interest and principal payment in past years.
His parent is staying away from him in a rented house. The Rent agreement of the house is in his parent's name but the rent is paid by him and the parent is dependent on him.
Now my question is that whether he can avail tax benefit for HRA under section 10(13A).
From India, Bangalore
2In our Company one manager who has constructed his own house by availing home loan from bank and he has cleared both Principal and installment due to bank and also availed tax benefit u/s 24b and 94C towards Interest and principal payment in past years.
His parent is staying away from him in a rented house. The Rent agreement of the house is in his parent's name but the rent is paid by him and the parent is dependent on him.
Now my question is that whether he can avail tax benefit for HRA under section 10(13A).
From India, Bangalore
Dear
The question is not clear.
Is the employee residing in his own house, or not ?
Is it in the same city where he is working ?
If the parent's are staying away in a rented house with rent agreement in their own name, how does it relate to his HRA? A person can pay rent to any number of relatives, anywhere.
The provision of HRA relates to an employee's accommodation and it has nothing to do with parent's name - though they can be dependent on him or stay with him.
From India, Delhi
The question is not clear.
Is the employee residing in his own house, or not ?
Is it in the same city where he is working ?
If the parent's are staying away in a rented house with rent agreement in their own name, how does it relate to his HRA? A person can pay rent to any number of relatives, anywhere.
The provision of HRA relates to an employee's accommodation and it has nothing to do with parent's name - though they can be dependent on him or stay with him.
From India, Delhi
One house for mother and father on rented 8000 and second for on loan instalment basic is Rs 10000 and intrest on house loan 3000 per month it means total for HRA Rs 21000/ can same person I take total rebate for same
From India, New Delhi
From India, New Delhi
1. The employee is residing is in his own house.
2. It is in the same city where he is working.
3. Parent is staying away from him in other city in a rented house.
4. Rent agreement of the rented house is in the name of his parent
5. He is paying rent for that house.
Now my question is that whether he can avail tax benefit for House Rent allowance u/s 10(13A) towards rent paid by him.
From India, Bangalore
2. It is in the same city where he is working.
3. Parent is staying away from him in other city in a rented house.
4. Rent agreement of the rented house is in the name of his parent
5. He is paying rent for that house.
Now my question is that whether he can avail tax benefit for House Rent allowance u/s 10(13A) towards rent paid by him.
From India, Bangalore
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Circular No 1-2018 Processing of income-tax returns under section 143(1) of the Income-tax Act .pdf