I had purchased a house 10years before, now i have sold the house by paying Principal Of Rs.4.72 Lac & INterest there on Rs.19917/-. now i am on rented house from Nov.10 onwards,
Could i calim benefit of Payment of
Principal payment agst. home loan U/s 80C
Interest paid on loan U/s. 24(B)
and House rent allowance U/s 10.
FYI, sold house & rented house both are in one place.
PLs. guide me.
Benefits under section 80C & 24 is associated with ownership. Thus for the period for which you are owner & paid principal & interest ur eligible for deduction under respective sections.
You are entitled to HRA exemption from the time you sold your housed & started living in a rented house, provided you do not own another house nereby i.e. in the city or surroundings.
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