Interest on house property

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Bhakti (Querist)
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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?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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.

Bhakti

Bhakti (Querist)
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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??

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