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Hi !! I am residing in Ahmedabad & owned a house for which I have taken a housing loan.Now as the house is far away from office,I have been shifted to my old house which is on my father's name & also I am paying rent to my father.Can I claim both HRA exemption as well as interest benefit on housing loan ???
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| Rajeev Pathak (Posted: Jul 28, 2011) |
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i have a house in Shimla where i am residing and availed loan from a bank and i have another house in village for which also i have availed loan from different bank how can i apply for the tax benefit under section 24 for both bank loan interest paid during current financial year
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| narveer singh (Posted: Jul 25, 2011) |
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I have got approval of my loan from bank for a tenure of 20 years. My builder has just started the construction work which will be completed in July 2013. I have two options....
1) I can disburse the money from bank as and when demanded by builder as per his slab wise schedule. In this case I will need to pay Pre EMI till the complete disbursement of the loan and then EMI will start.
2) I can disbusre the whole loan amount from bank at once and give it to bulider in August 2011. In this case, from Sept 2011 itself my EMI will start.
In both cases, can you explain me how and when I can start getting the tax benifits due to my home loan.
The registration for my home is already completed. Also I would like to know when I can claim the tax benifits for the amount I paid for the Stamp Duty and Registration.
Waiting for your reply.
Thanks in advance.
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| Trivedi (Posted: Jun 20, 2011) |
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is any govt employee is eligible to get the tax benefit on repayment on house building loan and the house rent allowance when he has taken possession the said house ?
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| Shingara Ram Birdi (Posted: Jun 5, 2011) |
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I've taken a loan of Rs 20.0 Lacs in March 2010 and the house construction by the builder started in Dec 2009. I'm repaying both Principal & Interest regularly (EMI). Expected possession is in January 2013. Am I eligible for tax-rebate on interest for the FY 2010-11? Can I claim it now during filing of IT Return? If no, from which FY shall I be eligible & in which AY shall I be able to claim the deduction during filing of IT Return? Is there any retrospective effect on Interest paid?
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| suchet dhar (Posted: May 30, 2011) |
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I am a Govt.Employee and I have taken home loan of 18L, the flat (in the same city) is under construction and my builder is committing for the possession of my flat by end of this FY (2011-12). Presently I am residing in rented accomodation.I would like to know whether I shall be able to get the Home Loan benefit ( for IT purpose) on the principle and interest paid in the current financial year. EMI against loan is being paid by me. Please guide me.
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| P.SRINIVASA RAO (Posted: May 23, 2011) |
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Myself & my wife both are state govt employees, govt quarters allotted to my wife, we have family disputes husband & wife hence myself staying in a rented house in the same city having all the documentary evidences, will am i eligible to claim HRA since i am paying the rent & my alone staying in quarters pl suggest me
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| Manojkumar (Posted: May 3, 2011) |
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Max limit for Principle amount is Rs.1,00,000/- (Under section 80C). and max limit for interest Rs.1,50,000/- (under section 24)
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| Ravi Kant (Posted: Apr 21, 2011) |
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I have taken home loan of 25L jointly with my working spouse, the flat (in the same city) is under construction and my builder is committing for the possession of my flat by end of this FY (2011-12). Presently I am residing in rented accomodation.I would like to know whether I shall be able to get the Home Loan benefit ( for IT purpose) on the principle and interest paid in the current financial year. EMI against loan is being paid by me. Please guide me.
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| geebee (Posted: Apr 14, 2011) |
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i am aying emi of rs. 28000 per month against home loan
1. how much max tax benefit can i get aprt from my hra
2. i also want to know the break up of benefit for my principl (max limit) and interest (max limit) per annum.
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| dheerendra singh (Posted: Apr 3, 2011) |
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