How Can We Claim HRA While Owning and Renting in the Same City Without a Loan?

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

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?

What is your company policy for HRA? Are you or your wife employed in any Government/PSU? Depending on your organization's policy, it should not be an issue at all.

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.

The queriest is confused. He and his wife are entitled to HRA as long as their respective employer has not provided them with any residence.