House property
This query is : Resolved
prakhar dave
(Querist)
22 March 2014
hey,
can anyone explain deduction u/s 24(b) of pre construction period interest u/h house property...??
thank you...!!
Nikhil Kaushik
(Expert)
22 March 2014
let say you start constructing a house in FY 2009-10 and complete the construction in FY 2013-14. So interest from 2009-10 to 2012-13 will be considered as pre-construction period interest.
Assuming that interest till 31 March 2013 is Rs 100000, it shall be deductible in five equal instalments of Rs 20000 each from FY 2013-14 to FY 2018-19.
Assuming that interest till 31 March 2013 is Rs 100000, it shall be deductible in five equal instalments of Rs 20000 each from FY 2013-14 to FY 2018-19.
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