Housing loan interest exemption

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  1. DURGAPRASAD MVKS

    DURGAPRASAD MVKS New Member

    I need two clarifications..
    1. If I have taken further housing loan on d same property for renovation (in 2012), whether I am eligible for H/L INTEREST exemption upto RS.30000/- only instead of 150000/- in last FY 1516..

    2. In d same property, parents r staying n I am not taking any rent from them, Now on my transfer to d same place n I am staying for rent @ same place, whether I am not eligible for HRA EXEMPTION..

    Pl clarify at the earliest
     
  2. ZED

    ZED Well-Known Member

    30,000 if the renovation did not completed within 3 years.
    Otherwise 200,000 [s.b.t. actual amount of interest.]


    Allowed.

    "Explanation.—For the removal of doubts, it is hereby declared that nothing contained in this clause[S.10(13A)]{HRA} shall apply in a case where—

    (a) the residential accommodation occupied by the assessee is owned by him ; or

    (b) the assessee has not actually incurred expenditure on payment of rent (by whatever name called) in respect of the residential accommodation occupied by him ;
     
    DURGAPRASAD MVKS likes this.
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