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Income from house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 January 2012 If a house is under construction in FY 2011-12. Loan has been taken on it and instalment contains principle amt as well as interest amt. Can we claim interest and pri. both as deduction? how?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
10 January 2012 Principal amount claimed u/s.80C

Interest can be claimed only the completion of construction as per sec.24

till then interest will be accumulated as preconstruction period interest after completion the same can be claimed in 5 equal installments
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