House property loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2012
We have booked one flat in pune but it is still under construction, we are living on rental basis and claiming HRA, now we want to take house loan and want to take exemption of EMI under section 80C and claim interest under income from House property head. can we take both the deductions with HRA.
CA PARAS BAFNA
(Expert)
06 June 2012
You can claim Deduction U/s 80C for repayment of Principal. You can not claim Interest till construction completes. However, you can claim such accumulated interest belonging to the pre-construction
period, in 5 equal installments later from the year of completion.
.
You can claim both HRA and Deductions in respect of loan.
.
period, in 5 equal installments later from the year of completion.
.
You can claim both HRA and Deductions in respect of loan.
.
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