Home loan rebate

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nitesh (Querist)
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25 June 2013
Dear Sir,
I am a salaried person and had taken a bank loan of 19 lacs in Aug 12 for construction of house.Construction is underway and is likely to be completed by Dec 2013.

I want to know,
(i) can i apply for rebate (under section 24 for the interest paid) while filing the return for 2012-13 or i have to wait for completion of home.
(ii) If i claim rebate for the same in 2013-14 ,can i include interest paid in 2012-13 also.
Thanks
Regards
Nitesh

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 June 2013 i) Can't claim in financial year 2012-13.

ii) I/5 th of the interest of financial year 2012-13 can be claimed in financial year 2013-14.