Hra eligibility

This query is : Resolved

MVDV PRASAD (Querist)
Follow

13 December 2015 I took the housing loan recently from the bank on purchasing the plot.Still the construction of the plot is not at over. At this juncture shall I eligible to claim interest on housing loan as well as HRA both as I am staying in rented house at presently.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

14 December 2015 You can claim HRA only now. Accumulate the interest on housing loan till the completion of house and claim it over 5 years after completion.

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
Follow

14 December 2015 Definitely till Possession of Plot you can Claim HRA. Deduction of Home Loan Interest cannot be claimed when the house is under construction.
The period from borrowing money until the construction period of house is called Pre-Construction Period. Pre-construction Interest Deduction allowed for Interest payments made deduction of the Pre-construction period is divided in 5 installments From the Year Which house is completed. Can be claimed Subsequent 4 years immediate to succeeding previous year in the year which Completion take place.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

THUSHAR MURALI KRISHNA

Rajesh

Frank

Amit Bhatkar

Shailesh Prajapati

Subscribe Now

Hra eligibility

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

CA Final

Accountant

Manager- Finance and Compliance

Senior Executive

GST CONSULTANCY