LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Housing loan interest claim

Vinay S (accountant) (21 Points)

30 May 2017

if the housing loan interest is claimable under income tax even the house co
nstruction is not completed.

Reply
Follow
Share

3 Replies

CA Jaya pandey (Chartered Accountant) (224 Points)
Replied 30 May 2017

Interest paid (on loan taken for construction of house property) prior to completion of that property will be allowed as deductions in five equal installments from the previous year in which construction work gets completed.

3 Like

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 30 May 2017

Yes, but only after completion of the construction (in 5 equal installments), till that time it is accrued.

2 Like

CA Rashmi Gandhi (Chartered Accountant) (86220 Points)
Replied 30 May 2017

Yes you can claim interest paid before construction of house but only from the year in which house is completed. Deductiin for same is allowed in 5 equal instalments in 5 succeeding years.

2 Like