House property
This query is : Resolved
Srinivasa Rao .Palla
(Querist)
21 February 2016
if the individual has taken a loan for constructing a self occupied house but he has not completed the construction with 3 years .in this instance whether can be give pre construction interest as deduction against his income
Nikhil Kaushik
(Expert)
21 February 2016
pre-construction interest is allowed. however, if the house property is not let out, the overall deduction is restricted to Rs 30,000 if the construction is not completed within 3 years.
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