Hra and home loan interest same year

Claim HRA till the date of registration and claim the Sec 24 interest too

Thanks Jim.

What do you mean by Registration... I have registered it with Govt in last FY i.e. after booking flat. without registration i would not have recieved home loan. 

I got the possession now in Dec 2013. 

regards,

Dear Yuvraj,

1) The exemption of HRA is available u/s 10 of the Income Tax Act. It is not written anywhere that if the person is claiminng the Home Loan interest exemption u/s 24(b) then he is not eligible for HRA exemption. So, yes u can claim HRA deduction upto 31st December'2013.

2) You can claim the deduction oh Home Loan interest for the whole year as per Section 24(b).

3) Yes, u can claim the interest paid during the previous year. But only 1/5 th of that will be allowed. U can claim the remainning portion(4/5th) in next 4 years (1/5th each year) in case the interest paid by u in those 4 years does not exceed 1,50,000.

Regards

Rohit Gupta

RHT1203 @ GMAIL.COM