13 February 2009
So long as property is under construction, you cannot claim Sec 24 and Sec 80C benefits
After construction is completed and "asset" is put to use either for self occupation or letting out, Sec 24 and Sec 80C benefits can be claimed depending on provisions in relevafnt sections
After construction is completed, you are entitled to claim HRA exemption (for house in which you are residing by paying rent to some one else) as well as Sec 24 and Sec 80C benefits (for property owned by you) even if both are situtated within the same town or city PROVIDED your own property has been let out for rent.
CAclubindia
