Leaderboard

1. To start claiming housing loan deduction/rebate you need to have possession letter. For under construction properties, you can claim previous years housing loan deduction/rebates once you get the possession letter. 2. You can show HRA & Housing Loan both only if you are not living in your house for a justified reason (ie it is too far from your place of work - usually it needs to be in different city but there's no explicit rule saying this - so you can probably get by if its far away or if its much smaller/bigger than what you need). 3. Maximum benefit is when you rent out your owned flat while you live in a rented flat yourself. In this case you can claim full interest while your rent income will be added as income (less 30% deduction allowed for maintenance etc) while you can also claim HRA exemption. Off course your need to live in rented house should be justifiable as mentioned above (ie too far or too small etc) I know its pretty complicated the first time you do. Specially, claiming previous years housing loan dedn/rebate once you get possession letter. There is absolutely NO RULE saying you can't claim both HRA & Housing Loan - in fact its done by everyone who owns a house in a different city while living in the city where he/she works. Its just that doing it when both are in same city requires some good justification as a backup - though IT Dept never really worries much about this unless you have many houses. So, in your case - first wait to get the possession letter; then claim previous years dedn/rebates. Then if you are not living in your own house and have rented it out you can claim HRA as well as principal/interest (without any limit) provided you show rent income. If its not rented then the usual 1.5L limit will apply for interest. If you start living in your own house, then you can only claim housing loan dedn/rebate and not HRA. Actually, I have found that housing loan dedn/rebate is hardly worth anything as HRA dedn is usually higher. Its just that you are getting to own an asset and getting some benefit.

GSM+CDMA <<< 3G or EVDO or 3G+1x or EVDO+2G ?

Samsung Launches Galaxy Ace Duos, Galaxy Y Duos, Y Pro Duos in India Source Samsung has finally announced the launch of its First Dual-SIM Android smartphones in Indian market. Company has released Galaxy Ace Duos, Galaxy Y Pro Duos and Galaxy Duos in the country today. According to the issued press release, Samsung Galaxy Ace Duos will be sold for INR 16,900, Galaxy Y Pro Duos for INR 11,090 and Galaxy Y Duos for INR 10,490. Specifications

^ ^ ^ AFAIK, Income Tax Act does not prohibit you from giving a reputation point to Amitabh Ranjan for such an authentic, detailed and informative post. How much time he would have spent for typing, collecting info for that post? Time for you to click on that green up arrow button! 1 Second!

You can't claim housing loan principal & repayment until you get possession. But after you get possession you can claim the previous 2 (or maybe 3, i don't remember) years repayments in the year you get possession. For details of IT rules you can go to incometaxindia.gov.in or go here directly to IT rules: http://law.incometax...e-tax-acts.aspx Unfortunately, they have changed the layout of the rules drastically so i'll need some time to link you to the correct section. Go to page 2 and see item no 22, 24, 25 Will give you exact section allowing claiming of previous years repayments tonight sometime.

Ok HTC Rezound is in Hands Now Have put a BSNL Card in it Changed the Mode to WCDMA & Voila SMS Started Coming can make & Recieve Calls But cannot send sms