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Deduction for home loan

This query is : Resolved 
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(Querist)
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.
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dhaval

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dhaval (Expert)
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
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CA Chaitanya

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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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