Interest on house property
This query is : Resolved
17 February 2012
I have taken a home loan. I will get possession after 2 years. But repayment of home loan has already started. I also have the bank certificate of Interest and Principal. Can i claim it under section 80C?
17 February 2012
Not right now.
You have to accumulate the interest and can claim in 5 installments from the year in which construction gets completed and in 4 subsequent years.
You have to accumulate the interest and can claim in 5 installments from the year in which construction gets completed and in 4 subsequent years.
17 February 2012
but what is the construction is already over but possession i will get after 2 years?? (like second hand house purchase)
Is possession compulsory to claim the deduction??
Is possession compulsory to claim the deduction??
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