09 April 2013
A person has bought an apartment on loan. the possession of the apartment will be given after three years as it is still under construction. the loan repayment made alongwith the interest during these three years , will he able to claim any tax benefit either under 80c or under income from HOP
11 April 2013
dear you can take benefit of principle repayment of loan to bank during the year in which it is paid.. irrespective whether the construction of the house has been completed or not..
but you can take benefit of interest paid during the construction period only after getting the house constructed till then you have to capitalized it under the head pre- construction period interest.
CAclubindia
