Home loan interest tax exemption

Pl.point out who has rejected ur claim. pl give complete inf while raising Q .what do u mean by LOHP.
u are eligible for H loan int Claim for Fy 18-19 but yr HP loss will be carried forward beyond 2 lakh. int. to At 20-21 & if it it on rent ur int. will be adjstd against Rent .
All this is
Provided prop. is in ur name. u have not pointed out the reason raised for rejection & by whom. it may be ur employer from u should have inquired about reasons

Hello Mr Goyal,

 

Thanks a lot for your valuable advise.

LOHP is "Loss On House Property"

My LOHP claim was rejected by employer as I couldn't provide any proof of ownership for my property by March 2019.

I had provided the agreement , completion certificate along with loan interest documents but it was not enough for the accounts department to approve.

I had March 2019 electricity bill but it was received in April 2019. Hence couldn't use it either.

I have paid Rs. 174000 as interest in FY 2018-2019. 

What I understood from your comment is, I can claim this Rs. 174000 for tax exemption while filling ITR in FY2018-19.

 

Thank You

Saptarshi

1. In your case rejection by your employer will not make much difference, you can claim your pre-construction interest paid up to 31st March 2018 at the time of filing your IT return in 5 equal installments.   
2. And interest paid during the year can be claimed as deduction u/s 24(b) as interest on borrowed capital (max of Rs. 2 lakhs) under the head "Income from House property" 
Please correct me if the above solution has an alternative view. 

Hi Suresh,

You are correct. I too think same way.

 

Thanks

SAPTARSHI