Deduction for home loan
This query is : Resolved
31 December 2008
My details of home loan
Loan sanction in nov 2008----29,00,000 with emi approx 29000
loan get till date ----------22,00,000 and paying emi 22000 as interest only.
My House will be completed in Feb 2009 .
Till date i am claming HRA ,Pls tell me when can i claim my Home loan deduction and how much .
also tell me upto which month i can claim my HRA.
Loan sanction in nov 2008----29,00,000 with emi approx 29000
loan get till date ----------22,00,000 and paying emi 22000 as interest only.
My House will be completed in Feb 2009 .
Till date i am claming HRA ,Pls tell me when can i claim my Home loan deduction and how much .
also tell me upto which month i can claim my HRA.
31 December 2008
u can cilam home loan deductin in following manner
Under house property:
for the home loan & for the interst componante only restricted to Rs. 150,000/-
Under section 80 C:
In respect of pricipal repayment of housing loan restricted to Rs. 100,000/-
HRA u cliam till the time u pay the rent. once ur construction of house is completed & u dont pay rent then u would not eligiable to cliam HRA
Under house property:
for the home loan & for the interst componante only restricted to Rs. 150,000/-
Under section 80 C:
In respect of pricipal repayment of housing loan restricted to Rs. 100,000/-
HRA u cliam till the time u pay the rent. once ur construction of house is completed & u dont pay rent then u would not eligiable to cliam HRA
CA Chaitanya
(Expert)
13 January 2009
You can claim the above decution from the year 2008-09 since your property completes in the month of Feb 09.
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