Can we start claiming deduction for home loan interest if one unit of house completed and partial loan amount disbursed by the bank on the basis of work completed. Another unit of house is still under construction and final loan amount not disbursed. Please note that the competent authority has also issued a certificate that one unit of house is completed and can be occupied by the assessee for his residence.
Kindly reply with the case law if any available.
If its habitable, and assessee has already occupied the portion, one can claim the interest portion as appropriated to the amount of loan sanctioned for the completed area.
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