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POSTED BY ON March 10, 2012 11:24 am ONE COMMENT
I am working in Oracle India Pvt Ltd Bangalore.I declared my investment on last date as required by the company and also declared house rent so that to get tax rebate on HRA.Now i am having one housing loan in Delhi but it just got sanctioned now,so as i have not invested anything else.Is it possible to get it declare now and get tax return.One of my friend told me that i can not declare both house rent as well as housing loan investment.So is it possible to get cancel house rent declaration and show up housing loan as investment.Can anyone tell me the whole process to follow.
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Dear blackmail, First you may claim both benefits of HRA as well as housing loan as HRA is for rented accommodation in Banglore & houseing loan is for Delhi house.
By the way, You said in your query that the housing loan is just sanctioned. It means you neither have the possession of the house nor any loan has been released to purchase the house. My dear friend in this case you can’t claim any tax benefit in the current FY. Yes from next FY, you may claim HRA & Home loan both benefits, if the house possession is there with you.
Thanks
Ashal