Home loan interest exemption
This query is : Resolved
10 November 2012
I got possession of my flat in accounting year 2009-10 on which I had taken Bank Loan. It was put on rent and had never been used for self stay. Since that year I was claiming Interest Paid during the year + 1/5th of interest paid during construction period under section 24(b). I have sold the flat in June 2012 after prepayment of loan. Can I claim the interest paid for Apr'12 & May'12 ? What about 1/5th Interest of construction period?
10 November 2012
You can claim interest for the period mentioned.
.
You can also claim 1/5th of the pre-construction period interest.
.
You can also claim 1/5th of the pre-construction period interest.
10 November 2012
Sir, 1/5th of the interest will be appropriated for 2 months of this year Or 1/5th for the whole year?
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