Dear Sir,
Last year I have purchased a residential property in Hyderabad by taking a home loan. But since the property is under construction in the FY 2013-2014, I couldn't claim for the interest exemption while submitting investment proofs in my company. The construction is completed in Feb 2014 (I got the possession of the house in Feb 2014), but I'm planning to shift by May 2014 (until then the property would be idle).
Now my query is can I claim the interest exemption for FY 2013-2014 while filing returns? (since the construction is completed in Feb, 2014). Can I claim HRA too until May 2014? along with Interest claim?
If I cannot claim the interest in last FY, can I claim the interest that I have paid till now in this FY 2014-2015? If yes, under what section? Please let me know.
Regards,
CAclubindia
