Clarification needed on Home loan declaration for IT

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  1. Sreedhar

    Sreedhar New Member

    I am staying in rent house (2014-2015) and have taken a under construction property in 2013 as a Joint Loan
    Loan got sanctioned in Nov 2013 (pre-emi 7 months). Full emi from June 2014.Property is registered in Oct 2014.
    I am planning to move in only in May 2015 since finishing work(interiors) is still pending and would continue to stay in rent house until then. But I can get the possession letter in Feb 2015 from the builder

     Can I Claim HRA until March , if not which month can I Claim
     Can I claim for housing loan principal and interest – from which month can I apply
     Can I include Registration and stamp duty in 80C option, if yes what is the procedure for joint loan

    Note: I have the provision certificate from SBI from 1st April 2014 to 31st March 2015, in which the Interest amount and Principal amount have been mentioned.
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    1. You can claim HRA for the whole period during which you are paying Rent. Even if your home is ready and you are not staying in it but paying Rent - you can claim HRA deduction for that as well.
    2. You can claim exemption from the year in which you get the possession from the Builder. If you get possession in Feb 15, you can claim exemption for the whole FY 14-15
    3. Yes, the stamp duty paid on registration of the flat is allowed to be claimed as a deduction.
    DEBASIS JANA likes this.

    DEBASIS JANA New Member

    Dear Shri Gaurav Kumar In my case an additional complication is that the loan amount is disbursed in two instalments in two consecutive financial years. Three year period is to be reckoned from the disbursal of second and final instalment or the first instalment? Grateful for a reply
  4. gaurav_kumar

    gaurav_kumar Well-Known Member

    The date on which you enterred into an agreement would be the date that would be considered
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