Income from house property.
This query is : Resolved
21 December 2013
I am a student of finance. I wish to know how is the pre construction period interest is calculated on the house property which can be claimed in 5 installments.
21 December 2013
the interest is calculated in normal manner as on any loan.
If the house is completed in FY 2013-14, Interest upto 31 March 2013 is to be accumulated and claimed in five equal instalment starting FY 2013-14.
If the house is completed in FY 2013-14, Interest upto 31 March 2013 is to be accumulated and claimed in five equal instalment starting FY 2013-14.
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