Hi i stay in a rented house and the HRA benefit is available in the Form-16 given by the employer. I have also bought a flat which is under construction and i am repaying the loan & interest. Now how can i take the benefit in Income Tax of my loan EMI paid.
the benefit for interest deduction shall be available only in the year in which the house is completed. Please refer section 24.
the deduction under 80C shall be available for principal repayment.
KK & Company Chartered Accountant
Pune
CA Inter
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