FAQs

• What documents can I use to prove that I have paid my rent?

  Receipts of the rent paid during the last financial year are typically applicable as proof of rent payment. If you do not have the receipts available, you may need to provide financial statements or other documents demonstrating that you have paid rent.

• Can I claim HRA if I live in my own house?

  No, you cannot claim HRA if you live in your own house. HRA is specifically meant for employees who are living in rented accommodations and paying rent to the landlord.

• Can I claim HRA if I live with my parents?

  Yes, you can claim HRA if you live with your parents and pay rent to them. However, you need to ensure that the rent paid is reasonable and that your parents declare the rental income in their tax returns.

• Is it possible to claim HRA (House Rent Allowance) and deductions on home loans simultaneously?

  Yes, you can claim HRA (House Rent Allowance) and deductions on home loans simultaneously. However, certain conditions need to be met to claim both benefits. For example, you can claim HRA if you are living in a rented accommodation and paying rent. Simultaneously, you can claim deductions on home loans if you have taken a home loan and are repaying the loan. The tax benefits on home loans are available under different sections of the Income Tax Act, such as Section 24, Section 80C, and Section 80EE.