HRA exemption and HOusing Loan Interest deduction

sec 24(a) deals with only completed houses, 

interest of pre-copletion would be availed in year of completion, (max 1.5 lacs for accumulated interest in previous 5 years)

MR SHARMA IS RIGHT

interest can be claimed after the completion of house.

pre - construction interest ( will be allowed in 5 yesrs)

post construction interest will be allowed in the year of accrue

Can I simultaneously avail tax benefits on my home loan and HRA?

The tax benefits for home loan and HRA are two separate entities and have no direct bearing on each other. As long as you are paying rent for an accommodation, you can claim tax benefits on the HRA component of your salary, while also availing tax benefits on your home loan. This could be the case if your own home is rented out or you work from another city etc. However, you need to account for any rental income you receive from the property you own under income from other sources.

--Currently  you can cliam both, because house is under construction. INT amount during construction period can be claimed for five years after completing the house.

Hi friends

                  Please clarify my point if i am taking a housing loan and then i am claiming full interst deduction against my income .My query is if i am giving that house for rent whether i can claim full interest deduction against my income.If it is a self-occupied property then what will be the criteria for claiming.

                   While purchasing a  house whatever exps i am doing that is registration chgs, stamp duty   etc can i claim as a deduction against my income in that year.

                    Please clarify and in advance thanks to all

Regards

Ranjith Krishnan

--Currently you can cliam both, because house is under construction. INT amount during construction period can be claimed for five years after completing the house. packers movers