Housing loan repayment made during construction period.
This query is : Resolved
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.
Earliest opinion from your end shall highly be appreciated.
Santosh Mishra
(Expert)
27 February 2013
Yes, it would qualify for exemption u/s 80C for FY 2011-2012.
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
(Expert)
17 August 2023
Construction period interest is deductible only after getting possession in five equal installments.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
