This is regarding Full EMI Paid instead of Pre EMI due to less service period. one of our colleague paid Full EMI on housing loan, whether he is eligible to get exemption for interest paid or not.
vijaya (Finance Dept) (31 Points)
05 August 2016This is regarding Full EMI Paid instead of Pre EMI due to less service period. one of our colleague paid Full EMI on housing loan, whether he is eligible to get exemption for interest paid or not.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 05 August 2016
Can be claimed, but upto the maximun limit.
vijaya
(Finance Dept)
(31 Points)
Replied 05 August 2016
Thank you sir,
where can I find section, any article or notification regarding this
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160332 Points)
Replied 05 August 2016
Let me clarify, that whatever amount of interest paid on Housing loan during construction period, can be claimed during first five years after getting possession, subject to maximum limits, as per section 24(b). PreEMI or Full EMI interst part can be claimed only after getting possession, till then it is accrued.
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