Dear Friends,
Please help me to resolve following quary,
I have a Flat & I am claiming Housing Loan facility (e.g.Interest & Principal Amount ) in the same city my father is staying & he is having his own House, My Flat is not convenient to for staying, hence I am staying in my fathers House aquire some part & paying monthly Rent.
Please advice is there any posibility to Claim Rent & Housing Loan at a time as per the above case.
Thanks & Regards
Pramod Varade
Yes you can claim the benefit of Rent Paid(HRA) & Home Loan at the same time. there is no bar on doing such, provided that you are able to produce the Rent Receipts and your father is not being affected by showing the rental income in his asst.
If you have not got the possession of the house from the builder, then you wont be able to claim the benefit of interset paid on your home loan till you get the possession of your house. However you can claim the dedcution on account of principal paid to the extent of 1lacs only u/s 80C.
CAclubindia
