Interest on housing loan
This query is : Resolved
05 March 2014
Having a loan taken for buying an under construction house in august, and possession received in november of the same year, does interest paid for the period of august to november classify as pre construction period interest(i.e. claim it in 5 equal installment) or can I include it as the normal interest u/s 24b?
05 March 2014
it will be included as normal interest only. please refer explanation to second proviso to section 24(b)
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