House property
This query is : Resolved
Ritu Alwani
(Querist)
03 August 2017
An individual has taken home loan for acquisition and construction of house on 15.5.2016. The construction of House is completed in the year 2016-17 itself. So whether there will be any pre-construction interest or not ??
K Srinivas, CMA CS
(Expert)
03 August 2017
Since the construction is completed before the end of the previous year in which construction began, no preconstruction period interest applies
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