Interest on house loan
This query is : Resolved
04 December 2013
Dear Sir,
I have Constructed ( finished in the month of OCt' 13 ) a house and the construction was started in the financial year 2011-12. Occupation certificate have also been obtained. I want to use this house for self occupation. As per the provisions of the said act, interest on house loan is aloowed upto Rs. 1,50,000/- for this year.
Whether this amount of Rs. 1,50,000/- includes the interest pertaining to pre construction period i.e. which is allowable in 5 equal installments or such interest for pre construction period is allowable additionally.
I have Constructed ( finished in the month of OCt' 13 ) a house and the construction was started in the financial year 2011-12. Occupation certificate have also been obtained. I want to use this house for self occupation. As per the provisions of the said act, interest on house loan is aloowed upto Rs. 1,50,000/- for this year.
Whether this amount of Rs. 1,50,000/- includes the interest pertaining to pre construction period i.e. which is allowable in 5 equal installments or such interest for pre construction period is allowable additionally.
CA PARAS BAFNA
(Expert)
05 December 2013
150000/ includes both. Pre construction period interest is not allowed in addition to 150000/-.
.
.
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