Housing loan repayment made during construction period.

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Rajesh. M (Querist)
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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.

Santosh Mishra

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

Rajesh. M

Rajesh. M (Querist)
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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.

Dhirajlal Rambhia

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

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