I have booked one flat in suburban area of mumbai on 29 Dec 2010. Till date I have paid Rs 5 lacs as token amount and 20% of the flat cost. HDFC bank has approved a loan of Rs 22.68. I will get the possesion of the house in the month of June 2011. The loan has been sanctioned but not disbusred. Kindly advise me whether I should go for pre-emi or ADF. also advise how can i use this home loan for tax saving. I am residing at same place in a rented house. Can i claim tax benefit on both home loan and HRA?
31 st march, the amt. you can claim exemption to the extent the interest will be applied on 31st march.
Please explore new provisions of tax savings from the tax-booklet. Also wait for the provisions in the ensuing budget which will be useful for you after the march.