I have bought one under-construction flat in Mumbai (Dombivali) which is still under-construction but now due to my job change, I had to relocate to Delhi where I am staying on rent. Since, My under-construction flat is in Mumbai and not yet get the possession but I am paying EMI (interest + principle). Please suggest can I get a tax benefit of both on EMI & HRA (in Delhi)?
Please indicate the section number where its clearly mentioned which I can show to my employer who has denied the claim on tax benefit for EMI.
Simillar above case is happen with me but I have bought one under-construction flat in Pune on Aug 2011 which is still under-construction also i am staying on rent in same city. Now I am paying EMI (only interest) & Rent. As per my company rule i can only claim HRA, not a Home Loan EMI whenever i will not get the possession letter.
So please suggest me can I get a tax benefit of both on EMI & HRA in financial year 2012-13?