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Pre construction Interest

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(Querist)
04 December 2009 Dear Experts,

One of my client has availed house construction loan for one of its property. Only a year has passed since the construction is over. I have a query whether a person can claim deduction of unavailed Pre construction interest for the remaining period even if has sold its property

Kindly quote circular no or caselaw reference if any

Regards & Thanks in advance
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
04 December 2009 Deduction for preconstruction interest is to be claimed from income from House property in five years after construction is completed. If Property itself is sold than no question of claiming deduction towards preconstruction interest.

Hence u cannot claim preconstruction interest if the property is sold.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
05 December 2009 yes agree. No Benefits if Sold...Property.
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CA Anand Sarda

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CA Anand Sarda (Expert)
09 December 2009 Pls Quote any Circular or relevant judgements or facts
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