Deductions for new house property

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Rupa Agarwal (Querist)
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13 February 2014 Hello Friends, I have a query regarding deductiins available in respect of a new house property which needs to be urgently resolved. One of my friend purchased a house property in FY 2013-14 the construction of which will be completed in FY 2014-15. He paid stamp duty and registration charges for the same. Ge has taken a housing loan of which EMIs have already started in Jan. Now my question is in which year the expenses and EMIs are claimable. 1. Stamp duty and registration charges in the year of payment 2. principal repayment (u/s 80C) and interest (u/s 24) from the year of possession. Right? If yes, can you please send me the clause/explanation/circular/notification issue by the department in this regard. Thanks alot for your time and consideration. Hope to get the inputs soon.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 February 2014 1. it is not allowed as only 24(b) will be allowed and other exp like reg chg and stamp duty not allowed.int allowed u/s 24(b)

2. in the year of making payment...refer sec 80C and also refer sec 80EE.

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