Availability of HRA exemption, Income Tax

[d.v. gupta]

my client has bought a house on loan and paid interest of Rs. 200000/-.he is living in a rented house and paying rent of rs 10000 p.m. he is also receiving rent from his bought house @ 5000 pm. whether he is entitle for HRA exemption being salaried and receiving HRA. whether Rs. 200000 paid as interest is deductible in total being rented house.

Posts / Replies

[rishi mohan]

As the assesse is a salaried employee, he can claim exemption for the interest of loan paid on the house. Loss from house property can be set off from the annual salary income.