House property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2012
Dear Sir,
I have a house im mumbai which is self occupied by me .it was purchased by me by taking loan in the 1999 &already claimed interest &principal.But now i also constructed a house in kerala by taking loan which is still under construction & it is about to finish. i started this construction in 2011 & also took loan in 2011 it self,so Can i claim preconstruction interest/interest amount & principal amount under 80c. If i cant claim deduction please specify the reason & suggest me a way for claiming that interest & principal amount.I think you will consider my points &do the needful
Thank You.
I have a house im mumbai which is self occupied by me .it was purchased by me by taking loan in the 1999 &already claimed interest &principal.But now i also constructed a house in kerala by taking loan which is still under construction & it is about to finish. i started this construction in 2011 & also took loan in 2011 it self,so Can i claim preconstruction interest/interest amount & principal amount under 80c. If i cant claim deduction please specify the reason & suggest me a way for claiming that interest & principal amount.I think you will consider my points &do the needful
Thank You.
13 August 2012
1. The pre-construction period interest is allowed as deduction u/s 24 in 5 equal instalments from the year in which the construction is completed.
Deduction is NOT allowed if the house is still under construction.
2. Principal amount shall be allowed as deduction u/s 80C even if the construction is not complete.
Deduction is NOT allowed if the house is still under construction.
2. Principal amount shall be allowed as deduction u/s 80C even if the construction is not complete.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR selection for salaries and capital gain less than L
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- Procedure for claiming exemption in Article Ship for CA Course
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
