Income from house property
This query is : Resolved
Querist : Anonymous
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?
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
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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