Home loan interest benefits
This query is : Resolved
NACHIKET BHOSALE
(Querist)
30 December 2015
Hello Experts,
Please suggest :
I have purchased home in 2013 but i still paying interest and property is under construction so how would I get this benefitsor is there any calculations & limit ?
Nikhil Kaushik
(Expert)
30 December 2015
as of now you are not eligible for any deduction. The deduction for interest shall start from the year in the construction is completed. The interest paid upto the the year before that shall be eligible for deduction in five equal instalments starting from the year in which the construction is completed. Kindly note that this deduction shall be within the limits provided under section 24b
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