80C- hsg loan

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This query is : Resolved

karan (Querist)

24 January 2011 I have a housing loan for under constructed house

i will be getting the possession in feb 2011

can i claim Excemption for Principal amount paid for full year in 10-11 u/s-80c

Can i claim interest paid in 2010-11 u/s 24
can i claim interest paid in 2009-10 u/s 24

can i claim stamp duty and registration charges paid in 2009-10

kindly advice

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)

24 January 2011 You can get full year principle amount deduction u/s 80C.

Interest after the possession is allowed in 10-11, interest before possession is allowed in 5 equal part in 5 years. So you will get 1/5 of interest paid before assessment.

Ratan Sharma

Ratan Sharma (Expert)

24 January 2011 1. You can get the full exemption u/s. 80C
2. You can get full exemption of interest paid u/s. 24 for the year 2010-11.
3. You can get 1/5th deduction of interest paid for the year 2009-10 .
4. you can get the deduction of stamp duty paid & registration charges in the return of F.Y. 2009-10.

karan

karan (Querist)

25 January 2011 Dear Mr.Ratan,

i paid the registration and stamp duty in 2009-10 but i am getting the possession in feb 2011

can i claim both also

i paid rent for april 10 ti jan11

can i claim hra exemption

Ratan Sharma

Ratan Sharma (Expert)

25 January 2011 You can get the deduction of registration fees & stamp duty in 2009-10 only it has nothing to do in which you got the possession.
You can certainly get the deduction of HRA from april 10 to jan 11.

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