Can we take benefit of land loan interest for calculation income from house property.
We purchase a land & taken a loan on that land. Now the building is constructed on in it, can we take benefit of Land Loan Interest U/s 24B.
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Interest u/s 24b
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you can take deduction of intt. only after your house has been completed. pre-contruction intt can be claimed for 5 yrs in 5 equal inst. from the year of completion of house.
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