Home loan emi regarding
This query is : Resolved
18 July 2014
Hi,
My friend has purchased a new flat which is under construction and his home loan EMI already started from June 2014 whereas actual possession will be next year, that is August 2015. Presently he is staying at rented house and paying rent for that house.
My query is, Can he claim HRA as well as home loan interest/principal amounts. Kindly advise in this regard.
My friend has purchased a new flat which is under construction and his home loan EMI already started from June 2014 whereas actual possession will be next year, that is August 2015. Presently he is staying at rented house and paying rent for that house.
My query is, Can he claim HRA as well as home loan interest/principal amounts. Kindly advise in this regard.
20 July 2014
Till the construction completion and occupying the house, he cannot claim the housing interest, this interest will be treated as pre construction period interest and accumulated and can be claimed after completion of construction in 5 equal installments.
However you can claim HRA exemption as usual for the rent paid
However you can claim HRA exemption as usual for the rent paid
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