Housing Loan Interest and Principal payment for Under Constructions
This query is : Resolved
16 April 2024
Hi Sir,
I bought an under-construction flat. So, I am paying the interest for now.
Can I claim both the interest and principal payments under Section 24 and 80C respectively?
Thanks in advance
Regards
I bought an under-construction flat. So, I am paying the interest for now.
Can I claim both the interest and principal payments under Section 24 and 80C respectively?
Thanks in advance
Regards
Nikhil Kaushik
(Expert)
16 April 2024
deduction for interest not available during construction period.
For the principal repayment, if I am not mistaken, there is no principal repayment during construction period (check with your bank). Hence, again no question should arise for 80C deduction during this period.
Suggestion: read the bare act. Should help you in developing your understanding of basic issues.
For the principal repayment, if I am not mistaken, there is no principal repayment during construction period (check with your bank). Hence, again no question should arise for 80C deduction during this period.
Suggestion: read the bare act. Should help you in developing your understanding of basic issues.
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