https://www.taxtmi.com/article/detailed?id=5807 HRA exemption is available only when the accommodation occupied is not owned and rent is actually paid, while interest deduction for borrowed capital used to acquire or construct a house property operates under income from house property and is subject to qualifying conditions and ceilings. The two benefits operate independently and do not exclude each other, so an assessee satisfying both sets of conditions may claim HRA and interest deduction concurrently. Interest allowed earlier may nevertheless be added to cost of acquisition for capital gains computation on sale, because capital gains and house property are distinct heads of income. en-us Mon, 01 Sep 2014 10:28:48 +0530 Mon, 01 Sep 2014 10:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5807 HRA exemption is available only when the accommodation occupied is not owned and rent is actually paid, while interest deduction for borrowed capital used to acquire or construct a house property operates under income from house property and is subject to qualifying conditions and ceilings. The two benefits operate independently and do not exclude each other, so an assessee satisfying both sets of conditions may claim HRA and interest deduction concurrently. Interest allowed earlier may nevertheless be added to cost of acquisition for capital gains computation on sale, because capital gains and house property are distinct heads of income. Articles Income Tax Mon, 01 Sep 2014 10:28:48 +0530 https://www.taxtmi.com/article/detailed?id=5807