Interest deduction on borrowed capital for home loan
This query is : Resolved
17 December 2015
Sir for the FY2015-16 I have borrowed money from SBI the builder was supposed to give possession by September 2015 . However builder has delayed the possession and is unlikely to give possession by March,2016. In this situation how can I calculate the Interest exemption for the FY 2015-16?
17 December 2015
Interest can't be deducted u/s 24(b) in FY 2015-16.
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18 December 2015
Sir am I eligible for exemption of Home Loan Principle Amount paid in FY 2015-16 according to the Sec80C?
18 December 2015
No, you will not get deduction u/s 80C(2)(xviii) since the flat is under construction.
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