housing loan proceesing fees and pre EMI interest.
This query is : Resolved
01 July 2010
Can the assessee claim deduction for housing loan processing fees paid by him and also the pre EMI interest which has to be paid. if yes then under which section of income tax act,1861
01 July 2010
Under sec.24(b) processing fees are not eligble for deduction and Pre emi interest can be claimed only after the constuction is completed, what ever pre emi interest paid the total interest can be claim in 5 equal installment in 5 year from the year of completion of construction
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