Deduction of principal Payment of Home Loan
This query is : Resolved
CA Kamlesh Kukreja
(Querist)
14 July 2023
As Per Section 24(b) we can not avail interest deduction of under construction flat till construction is completed. but can we avail benefit of Principal Amount repaid as Section 80C doesnot have restriction in this regard for under construction flat?
CA R SEETHARAMAN
(Expert)
14 July 2023
The principal component of the loan repaid can be claimed u/s 80C of the IT Act even though the same is paid during the construction period.
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