HRA HOME TBRA is a United States Department of Housing and Urban rental assistance program run by the NYC Human Resources Administration (HRA). A computer kiosk is available in the HRA lobby or at the public library across the street from the HRA office. HUD Public Housing Assessment Score and Section. Long-Term Care Services refers to the wide range of in- home, community-based, and institutional services and programs that are designed to help the elderly. HRA HOME TBRA will help tenants afford the cost of rent. HRA is dealt with in section 10 13A Rule 2A while home loans are entitled for tax benefits under section 80C tax benefit on principal repayment and Section 24 tax benefit on interest payment of the Income Tax Act. Can both be claimed? The writer is CEO, Right Horizons If you own a house in one city and live in another, then you can claim HRA and housing loan benefits. Also, please note that if your house remains vacant, then you will still need to pay tax on a notional rent income. Click the floor plan for a larger view not necessarily to scale. Let us evaluate various possible situations an individual can find himself in and understand what the income tax act permits him to do. In such a case, you are eligible to claim HRA. The maximum permissible deduction of interest payable on the home loan is up to Rs. You have taken a home loan and residing in the house purchased with it. Choose your reason below and click on the Report button. Fill in your details: However, if you own a house in one city and live in another, then you will be able to claim both HRA as well as housing loan benefits. Facebook shuts AI program after bots create own language. You took a home loan and your house is now ready for occupation. This article is closed for comments. You have taken a home loan and residing in the house purchased with it. The three-bedroom units are a two-story design with 1, square feet. NYC Search City of New York. Hence, feel free to avail both tax benefits accordingly.