Repayment of housing loan principal amount and HRA
Querist : Anonymous
I hava an issue. Please clarify it......
My friend is a salaried employee and she is claiming HRA exemption. She borrowed the housing loan and construction is not yet completed. She is started to make the repayment of loan.
My question is Shall she get the benefit of deduction u/s 80c (Construction is not completed) and HRA exemption.
Please clarify my doubt as soon as possible.
Interest of preconstruction period may be claimed u/s 24(b)in 5 equsl instalmentcommencing from the previous year in which the house is constructed.
So far as deduction for principal amount is concerned u/s 80C, it can be claimed.
Querist : Anonymous
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