14 February 2012
employee has his own house property at place of service. he is also getting HRA. he takes house loan for the purpose of reconstruction, and during that time he would live in rented house. now can he claim 1) HRA and 2) repayment of housing loan u/s 80c? or claim only one ?
14 February 2012
80C can't be claimed for repayment of loan taken for 'reconstruction' since deduction is allowed only for the loans taken for "purchase or construction......"