banner_ad

Interest of pre- contruction period

This query is : Resolved 
Profile Image

Profile Image

(Querist)
15 October 2014 plzz ..tell me about the concept of interest of pre- contruction period in case of house property .... how to computed ?? and how to understand ... plz answer me??????
Profile Image

CA Mukkul Mehta

Profile Image

CA Mukkul Mehta (Expert)
16 October 2014 Interest for pre construction period means interest upto the date of completion of construction. Interest for each financial year is accumulated upto the 31st March of preceding financial year in which the construction is completed. e.g. if the construction is completed on 15.10.2014, interest upto 31.03.2014 is treated as interest for pre construction period. This interest is allowable as deduction u/s 24 equally for next 5 years i.e. 20% each year(starting for FY 2014-15 in above example). This amount is allowed in addition to interest due for each of the next five years. However, the total amount is subject to overall ceiling of Rs. 2 Lacs in case of Self occupied property.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details