Income from self occupied house property
This query is : Resolved
21 September 2012
A loan was taken to construct a house property but it couldn't be completed within 3 yrs. That means maximum deduction of Rs. 1,50,000 won't be available. Will the minimum deduction of Rs. 30,000 be available in this case?
Thank you sir.
Thank you sir.
21 September 2012
Then sir plz help me with this question:
Construction started - 1.11.2005
Loan of Rs. 5,00,000 taken at 16%p.a. on 1.11.2005. Construction completed on 31.3.2012.
What will be the pre construction period interest?
Construction started - 1.11.2005
Loan of Rs. 5,00,000 taken at 16%p.a. on 1.11.2005. Construction completed on 31.3.2012.
What will be the pre construction period interest?
Amol S Joglekar
(Expert)
21 September 2012
Get the interest certificates from the concerned BANK/Financial Instituion. Interest till 31/03/2012 shall be pre construction period interest
21 September 2012
Sir i am a student
Amol S Joglekar
(Expert)
21 September 2012
student is not restrained from getting a loan certificate. Anyway.... calculate in that case at simple interest basis. Do not try to go by EMI kind of formula if you are into intermediate level.
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