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ideduction u/s24

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 December 2009 I took a housing loan on sep'2009. EMI strated from Oct'2009.
Can I claim deduction of Interest on housing loan in F.y.2009-10 if date of possession is as below
1.january'2010.
2.april'2010
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
30 December 2009 Hiii....

1) In the January'2010 = You can claim interest as deduction u/s 24(b)in P.Y. 2009-10. (Post-Construction Period)

2) But In the April'2010 = You can claim interest amount only from the P.y. 2010-11. Interest amount paid, From Oct'09 to Mar'10, can be claimed under PRE-CONSTRUCTION PERIOD, therefore this Interest amount can be claim over the 5 years, however from P.Y. 2010-11 you can claim Actual Interest amount per annum, if interest paid.

Regards!!!
Dinesh S. Adhikari
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