Hi Pankaj,
I have an offer to work in bangalore and I plan to rent an apartment @ 18,000 PM.
I am born and brought up in Mumbai and hence I want to keep one apartment for my dependent parents in Mumbai @ 15,000 PM. I am not willing to go for a home loan and would like to stick to 2 rented accocomodation for the time being.
My question is that can I claim HRA deduction from taxable income for rented accomodation for both the cities since one is occupied by me in bangalore where I am working and another is occupied by my dependent parents in mumbai.
If I can claim deduction for both, should I simply add both the rents and accordingly claim deduction as is the case with single apartment or there are any other rules. Do I need to have both lease agreements on my name or it is fine if Mumbai apartment is leased on my parents name ?
It will really help me since I plan to ask for more HRA in my package in order to claim deductions. Appreciate your expert opinion on this matter.
Thanks & Regards
