Under construction flat loan income tax benifit
pravin
(Querist) 06 February 2013
This query is : Resolved
I have bought one under-construction flat in Pune on Aug 2011 which is still under-construction and will be get possession in Nov 2013, currently i am staying on rent in same city. Now I am paying Home Loan EMI(Int.+Principle) & Rent. As per my employer rule i can only claim HRA, not a Home Loan EMI because i am not have the possession letter.
So please suggest me can I take a tax benefit of both EMI & HRA in financial year 2012-13 without possession letter. So i request you that please give me any reference legal document as a proof for claiming both HRA & Home loan amount at a time.
Raj Kumar Makkad
(Expert) 07 February 2013
You have already replied your query. There is no such provision.
Guest
(Expert) 07 February 2013
Dear Pravin,
The same question was asked from me through email in the name of "Devendra Somankar", which I replied on 3rd February by quoting relevant sections of the IT Act.
Putting the same question time and again in different names will not alter the law position. You cannot get double benefit at source. You will have to claim the rebate in Tax for home loan/ interest on under construction flat only through IT return from the Assessing Officer.
If not satisfied, it will be better for you to approach your Assessing Officer in the IT department and ask, if he can help you to get double benefit of TDS.
H.M.Patnaik
(Expert) 07 February 2013
Until and unless title to the house property is transferred in your name, you can not claim any concession / deduction under provisions of the Income tax Act,1961 . So, Mr. Makkad has answered wisely.
R.V.RAO
(Expert) 15 March 2014
it is true employer cannot give 2 benefits at source.accept for whatever benefit employer gives.or pressurise builder for completion/possession cert.
you can always claim the benefit under IT act by filing a return.
Guest
(Expert) 10 December 2014
Well Advised
Anirudh
(Expert) 10 December 2014
SHAME ON THIS FELLOW TO ATTEND THIS ONE YEAR OLD QUERY.
HE IS TRYING ALL THESE GIMMICS TO HIDE HIS FALSE AND FRADULENT PROFILE.
This fellow cannot even be a last person one can consult for any advice.
This fellow is good for nothing. Many a times he gives advices which are not supported by law.
TAKE THIS FELLOWS FALSITY IN HIS PROFILE. THIS FELLOW ATTACHES MORE IMPORTANCE TO THE PROFILE, WHILE HE IS FILLING UP TOTAL FALSE HOOD IN HIS PROFILE.
please visit the following link:
http://www.lawyersclubindia.com/lawyers_search/N-J-S-Rajkumar-alias-narasimha-254519.asp#.VIcRwmeHPFx
where he claims that he is practising from 2001, while as already indicated by me, he was enrolled only in the year 2012!!! CAN ANYBODY PRACTICE BEFORE ENROLMENT? IF ONE DOES SUCH A PRACTICE IS HE NOT FIT TO BE CALLED A "FRAUD"?
N.J.S.Rajkumar alias narasimha's Details
Listed Under
Business Law
Civil Law
Criminal Law
Practicing Since
2001
Specialization
SEBI and SEBI RELATED CASES
Court
Others
Address
54,PARASURAMA EASWARAN KOIL WEST MADA STREET,AYANAVARAM,CHENNAI 600023
Other Details
rajkumar_wins@rediffmail.com 9444036927
Therefore, before taking advice, the querist should be too careful
