Interest on housing loan
This query is : Open
01 April 2013
Hello,
I have taken a housing loan last year and the construction is also completed during last year itself. Now the question is what is the treatment given to the interest for last year? Prior period interest or current year interest?
Note. EMI started immediately after loan sanction.
I have taken a housing loan last year and the construction is also completed during last year itself. Now the question is what is the treatment given to the interest for last year? Prior period interest or current year interest?
Note. EMI started immediately after loan sanction.
02 April 2013
Interest prior to the date of completion is availabele for deduction in 5 successive finanacuil year @1/5 each year
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