Home loan interest - claiming deduction u/s 24b

Jayashree (Software Engineer) (82 Points)

27 April 2015  

Hi,

 

Here is my concern.   I have a home loan of 68L (second home) and I am about to get possession in Dec-2015.

 

Builder is giving possession letter in Dec-15 or Jan-16.   I already have paid pre-emi interest of around 3L in FY 2013-14.    I may end up paying 6L on interest part in FY 2015-16.

 

Can I claim whole interest  6L + 0.6L  (3L/5)  = 6.6L in current FY?  

 

As this is my let out property can you guide how to calculate notion rent and muncipal taxes as possession letter is coming in Dec-15.

 

 

Regards

Suresh