Income Tax exemption on home loan

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  1. SushilB83

    SushilB83 New Member

    Hi,

    I would like to know if one can get a deduction on Interest on Home loan if the property has recieved completion certificate for it but the possesion is due after some months in the same financial year. Also can one claim benefit for HRA with the benefit for interest payment on home loan till the time he shifts to the new property.

    Eg: Property loan starts in August, possesion in January, Can one claim benefit on Interest & Principal and also HRA benefit for House rent paid till January?

    Thanks

    Sushil
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    Yes, you can claim deduction for the principal and the interest paid.

    Moreover, you can also claim HRA exemption along with deduction for interest and principal.
     
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