I know this question has been asked many times earlier but the answers are too technical for me to understand. Request your guidance (at dummy level).
I am living in a rented house. This year (F.Y. 2014-15) I have booked an apartment in the same city for which i will get the possession on Feb or March 2015. I have opted for Directly-EMI (no pre EMI) and I am paying the EMI since August 2014.
Now for my case there are 3 components which can be claimed under various scenarios. 1) HRA. 2) Principle repayment done during the year. 3) Interest repayment done during the year.
Could you please help me in understanding on what I can claim out of 3 mentioned above and under what section (I am not in possession of my apartment as it is still under construction)
Also, If possible, what all documents I need to claim the tax exceptions under the 3 categories mentioned.
Thanks in advance