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if someone purchase a flat in 2014-15 and possession will be taken in 2016-17.so he can take the benefit pre-emi interest in 2016-17 which is paid in2014-15 & 2015-16. And How it will be Apply
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Hi,
Interest paid on home loan upto the possesion of property is deductiable under Income from House property head.
You can take benefit of this in 5 installments(In 5 years equally) from the year of possesion (2016-17).(Total interest upto possesion/5).
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