Can I file refund of interest paid on housing loan ?

POSTED BY Nitin Verma ON April 3, 2014 8:30 pm COMMENTS (5)

I have a housing loan of 28 lacs for 25 yrs.

i got possession of house on 27th mar 2014. can I file for refund on interest paid during fy 2013-14?

if so how much?



5 replies on this article “Can I file refund of interest paid on housing loan ?”

  1. ashalanshu says:

    Dear Nitin, please read my reply again. I said if you declare notional rent, you can claim full interest paid in FY 2013-2014. In case you want to understand in detail, please post a personal mail to me.



  2. Nitin Verma says:

    Thanks a lot..
    Sorry but could not understand how to claim full 2.5 lacs interest claim for tax benefit. I thought i can claim only 1.5 lacs and that too over a period of 5 yrs.
    Kindly suggest.

  3. ashalanshu says:

    Dear Nitin, as the house in question is not occupied by you and you are still paying rent for your personal accommodation, you can still claim HRA benefit also. If you declare notional rent from this property, full 2.5L Rs. interest can be claimed.



  4. Nitin Verma says:

    Thanks Ashal for the response.
    Total interest paid in FY 13-14 is 2.5 lacs.
    Houe at present is not occupied (by self or rented) as is presently vacant. Does it have tax impliction ? I am not claiming HRA exemption as of now.

  5. ashalanshu says:

    Dear Nitin, yes, you can claim during your ITR filing in May June 2014. How much interest you have paid? Is the house in question self occupied or on rent?



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