Home loan interest examtion under 24(B)
This query is : Resolved
11 November 2008
Hi,
I got home loan for Rs.15.20 Lakhs, but now 9 Lakhs r santioned for sight purchase by the bank, bank is given provisional certifiate for claiming the interest ( pre emi interest) but my employeer r telling it is not possible to claim the interest ( pre emi int) which is paid by me monthly.( pls note i am paying 8500 p.m as pre EMI int)
Pls let me know where i can get the prof to convince my employer.
With Regards
Ganesh
I got home loan for Rs.15.20 Lakhs, but now 9 Lakhs r santioned for sight purchase by the bank, bank is given provisional certifiate for claiming the interest ( pre emi interest) but my employeer r telling it is not possible to claim the interest ( pre emi int) which is paid by me monthly.( pls note i am paying 8500 p.m as pre EMI int)
Pls let me know where i can get the prof to convince my employer.
With Regards
Ganesh
CA Vivek Jain
(Expert)
11 November 2008
you can claim on the time of return filing
11 November 2008
Can i claim in this financial year?? can i get any prof??, so that i can show the same to my employer.. as they r deducting income tax from my salary.
Nilesh Shah
(Expert)
11 November 2008
Nilesh Shah Writes:
Cell: 92246-59941
E mail: nilesh63@vsnl.com
The proof is in explanation to the second proviso of section 24.
It says that any interest paid prior to the acquisition or construction of the property will be deducted in five equal instalments commencing from the previou year in which the property has been acquired and four subsequent previous years.
Sincerely,
Nilesh Shah
Cell: 92246-59941
E mail: nilesh63@vsnl.com
The proof is in explanation to the second proviso of section 24.
It says that any interest paid prior to the acquisition or construction of the property will be deducted in five equal instalments commencing from the previou year in which the property has been acquired and four subsequent previous years.
Sincerely,
Nilesh Shah
CA Tilak Raj Sharma
(Expert)
15 November 2008
First clarify that the construction of house has been completed or not?
19 November 2008
No.. it is not completed and yet to start, the same will complet in next july'09
SANDEEP AGGARWAL
(Expert)
20 November 2008
You can claim only when you get possession and house it completed. If your house will conplete in July 09 than you can claim int for F/Y 2009-10(Entire interest foe 2009-10 and 1/5 of interest accrued before 1st April 09)
Regards,
Sandeep Aggarwal
Regards,
Sandeep Aggarwal
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