Dear Sir,
I am paying my Housing loan but i will get possesion of flat after 2 year......and so i am leaving on rent..
Can i get both benefit 1) HRA and 2) Interest of Hsg. Loan in income tax act
Regards
Sachin Waje
1 Replies
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 20 March 2013
No, as the house for which you have taken a loan is not in your possession, you are not entitled to deduction of interest under section 24. But you can claim HRA under section 10(13A). After possession/completion of construction you can avail both at the same time subject to certain assumptions.
Regards,
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