Deduction for housing loan
Querist : Anonymous
The employer of the assessee is demanding for the possession letter for deduction claim.
Please suggest what to do
because as per income tax provisions interest on housing loan is allowed as deduction from the year in which acquisition is made.
and house is said to be acquired either on registry or possession whichever is earlier..
till then interest will be treated as pre construction interest which will be allowed in later 5 years in equal installments..
Querist : Anonymous
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