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Housing loan repayment made during construction period.

This query is : Resolved 
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(Querist)
21 February 2013 I need an opinion on deduction allowable U/s.80C on house loan principal repayment made during the FY 2011-12. The house loan was taken for purchasing a FLAT the construction of which is yet to be completed.

Earliest opinion from your end shall highly be appreciated.
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Santosh Mishra

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Santosh Mishra (Expert)
27 February 2013 Yes, it would qualify for exemption u/s 80C for FY 2011-2012.
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Rajesh. M

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Rajesh. M (Querist)
27 February 2013 Thank you sir for your valuable opinion on this matter.Further specific points regarding the pricipal repayment during the construction period not show in the IT Act like pre-construction interest.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
17 August 2023 Construction period interest is deductible only after getting possession in five equal installments.
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