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ritesh (Querist)
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14 July 2015 Dear Sir,
I have paid 200000 interest for my Flat before I got Possession.

Now I got Possession, In which section I can mentioned this 200000 interest whiling filling ITR return ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2015 Term it as interest during construction and add 1/5th of the amount to current year interest payment and claim it for next 5 years.

CMA Gul S

CMA Gul S (Expert)
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14 July 2015 Hi Ritesh -

you need to amortize it in 5 years, but your tax certificate should clearly show the pre payment interest.

ritesh

ritesh (Querist)
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14 July 2015 Dear Both,
Thank you for reply. I have one more query. This year I have 191000 interest and pre payment interest is 30 thousand. So I can eligible for 191000+30000=221000 or only 200000 for tax benefit.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2015 If the house is self occupied you are eligible for 200000 only.