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Intt. On Home Loan & House Rent

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 April 2011 Can a person take the exemption of Intt. paid on Home loan and House Rent on the same time where as possession of New House not yet been taken ?
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RAJESH

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RAJESH (Expert)
14 April 2011 interest on housing loan is not available till the house is ready and the person gets the possession. The interest till that time is accumulated and when the house is ready from that year onwards, he can claim in equal installments for 5 years. As the possession of the house is not taken how can the rental income on the same be generated
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 July 2023 "Sorry, I am not a featured member."

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