Repayment of housing loan principal amount and HRA

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2011 Hi Friends,

I hava an issue. Please clarify it......

My friend is a salaried employee and she is claiming HRA exemption. She borrowed the housing loan and construction is not yet completed. She is started to make the repayment of loan.

My question is Shall she get the benefit of deduction u/s 80c (Construction is not completed) and HRA exemption.

Please clarify my doubt as soon as possible.

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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03 February 2011 HRA exemption can be claimed till he pays rent and her house is not completed.

Interest of preconstruction period may be claimed u/s 24(b)in 5 equsl instalmentcommencing from the previous year in which the house is constructed.

So far as deduction for principal amount is concerned u/s 80C, it can be claimed.

Querist : Anonymous

Querist : Anonymous (Querist)

03 February 2011 Thank you so much sunil.

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Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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04 February 2011 No need to write thank you. You can thank by pressing button