Interest paid on under construction property.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 August 2014
I have bought an under construction flat and have taken a Bank loan and paying interest-only installments. Now it has been more than 3 years and property is still under construction. I want to sell the property.
Please guide me if i can claim tax exemption of interest paid?
Please guide me if i can claim tax exemption of interest paid?
Nikhil Kaushik
(Expert)
14 August 2014
the interest paid will be added to the cost for the purpose of computation of capital gains.
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