Interest for pre construction period
This query is : Resolved
26 February 2013
Dear All,
I am residing at rented house & i have booked a flat in same place. The house will be completed in June 13 but repayment has been started because partly loan has been disbursed.
Now I want to claim HRA for full year as well as benefit of int. on home loan u/s. 24b which has been paid by me during the FY.12-13.
In my view int. paid by me is not for pre-construcion period because pre-construction period means the period commencing on the date of acquisition or date of repayment of loan, whichver is earlier.
I have started to repayment hence could I claim the total interest paid by me in the Current FY.
if any case law; pls give.
Thanking you,
Avinash
I am residing at rented house & i have booked a flat in same place. The house will be completed in June 13 but repayment has been started because partly loan has been disbursed.
Now I want to claim HRA for full year as well as benefit of int. on home loan u/s. 24b which has been paid by me during the FY.12-13.
In my view int. paid by me is not for pre-construcion period because pre-construction period means the period commencing on the date of acquisition or date of repayment of loan, whichver is earlier.
I have started to repayment hence could I claim the total interest paid by me in the Current FY.
if any case law; pls give.
Thanking you,
Avinash
26 February 2013
Interest you are paying is for the pre-construction period.
Because your house will be completed in Jun-13, so it is after 31-03-2013, so you can claim interest paid during such period as pre-construction period from F.Y. 2013-14 in equal 5 installments.
Because your house will be completed in Jun-13, so it is after 31-03-2013, so you can claim interest paid during such period as pre-construction period from F.Y. 2013-14 in equal 5 installments.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- RELATED TO TRIBUNAL APPEAL
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- LIC maturity claim whether taxable
- Sec 44ada applicable only or both
- Compulsory aqisation of Agriculture & Non Agriculture land are taxable or not ?
- TDS AND ITR ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
