HRA and Home Loan Interest

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  1. k2g

    k2g New Member

    HI,
    I bought a house in 2012 which is completed this year. My scenario is
    1. I have got possession of property on 18th march 2016
    2. I was staying on rent for entire year.
    3. As per rule, we can't claim HRA and home loan interest benefit if house is in the same city as you working in.
    4. But my case is where i paid rent for full year as well as i got possession in this current financial year.

    Question I have are :

    1. Is it possible to claim both the benefits during Income tax return?

    2. If yes, Will it be considered Self Occupied property or To Let property for the purpose of exemption limit?
    3. How will I add previous year's interest (divided by 5) in this year? If I don't claim previous year's interest now, can i do it next year?
    4. Any precaution I should take, as it is little complicated case?

    Thanks in advance.
    Keshav
     
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