decution under HOME LOAN
This query is : Resolved
31 December 2008
I have taken a home loan in Nov 2008 .Loan was sanctioned for Rs 27,00,000 with emi approx 29000. till now i get only 22,00,000
and paying Rs. 22000 as emi .my house will be complete in Feb 2009 . after that i will pay Rs 29000 as my emi . pls tell me when can i claim my home loan deduction and how much .
Pls also tell me about my HRA,for how many months i can claim it.
and paying Rs. 22000 as emi .my house will be complete in Feb 2009 . after that i will pay Rs 29000 as my emi . pls tell me when can i claim my home loan deduction and how much .
Pls also tell me about my HRA,for how many months i can claim it.
31 December 2008
If construction is completed in Feb 09, you will be entitled to claim benefits u/s 24 for Interest and 80-C for Principal in FY 2008-09 (AY (2009-10). For this purpose, EMI payments made by your right from Nov 08 to Mar 09 are taken into consideration.
You need not have any apprehensions about eligibility to claim benefits in respect of EMIs from Nov 08 to Jan 09 (period before completing constuction). The position would be different if house construction is completed after Mar 09
You can claim Deduction for HRA, if you stayed in rented house, upto Jan 09
You need not have any apprehensions about eligibility to claim benefits in respect of EMIs from Nov 08 to Jan 09 (period before completing constuction). The position would be different if house construction is completed after Mar 09
You can claim Deduction for HRA, if you stayed in rented house, upto Jan 09
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- TDS Claim year
- Supply through E-commerce Operators
- Rent lease agreement
- TDS Challan Code
- Relief u/s Section 89
- REGARDING SECTION 44AE
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Sales return eway bill
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
