Deduction against home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 June 2013
Dear Sirs,
I purchased a residential flat in year 2010 under construction linked plan and also availed bank home loan for that. Possession has yet not been given to me as construction is still going on. My question is ,am I entitled to deduction of the principal amt. and interest amt. at the construction stage or after the possession is handed over/flat is registered in my name and what will be the exact quantum of deduction under each head.
Kindly respond soon.
Thanks
I purchased a residential flat in year 2010 under construction linked plan and also availed bank home loan for that. Possession has yet not been given to me as construction is still going on. My question is ,am I entitled to deduction of the principal amt. and interest amt. at the construction stage or after the possession is handed over/flat is registered in my name and what will be the exact quantum of deduction under each head.
Kindly respond soon.
Thanks
CMA Ramesh Krishnan
(Expert)
15 June 2013
yes. under sec,80C there is no conditions for claiming principal. so you claim
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