Deduction for home loan

This query is : Resolved

bhatia (Querist)
Follow

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.

dhaval

dhaval (Expert)
Follow

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