Hi,
I have a plot and have taken loan from axis bank. The bank has given loan in the form of plot and home construction though I intend not to construct home. I am already claiming HRA, could I also claim housing loan part ? If yes how? And if I claim home loan, after loan is paid can't I claim HRA again? Thanks very much in advance. Regards, ramki
Hi
You can not Int. on loan deduction against purchase of Plot!
Thanks
Even if the bank has given you housing loan on plot purchase you cannot claim interest deduction u/s24 or principal deduction u/s 80C as no residential house is being constructed.
You can continue to claim HRA deduction.
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