about claiming HRA & Housing loan interest & Principal.

This query is : Resolved

CA Sunanda Badgujar (Querist)
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16 January 2010 Hello All,
I want to know that whether a person can claim benefit of HRA & Housing loan Interest & Principal amount at a time.
as the house is under-construction & the person at present lives in rented house.
so can he eligible to claim HRA as well as Housing loan Interest & Principal at the same time.
Pls reply early...
Thanks in advance.

CA Rohin Arora

CA Rohin Arora (Expert)
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16 January 2010 Yes he can...

but calculate only the pre construction interest on loan only...

Rohin

CA Sunanda Badgujar

CA Sunanda Badgujar (Querist)
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16 January 2010 Thanks for reply, but what about the Principal amount of loan installment which we can claim as deduction u/s 80C, during the period of construction.

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CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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18 January 2010 He can claim all HRA, Interest and Principal.

But Interest(Sec 24(b)) & Principal(Sec 80c Amount is not eligible for deduction untill house not completed/fully constructed.

Regards!!!