In fy 2017-18 home loan sanctioned in December month and rent has been paid for the whole year... In this situation for a salaried person is exemption allowed for house rent paid and Interest paid on home loan simultaneously?
Please suggest thanks in advance
2 Replies
Mehul Bhanushali
(CA in Practice)
(174 Points)
Replied 12 December 2018
You can take house rent deduction upto December only, as from the month of December you have taken home loan for purchase of your house property meaning you have taken a house property for your residential use. (Assuming you have got the possession and have started living in the new house)
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