Pre construction interest on housing loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2012
Possession of flat taken in the year 2011-12, but the flat is still under construction during the year.
Can interest paid on housing loan in the fy 2011-12, be claimed under section 24(b) in the ay 2012-13?
Can interest paid on housing loan in the fy 2011-12, be claimed under section 24(b) in the ay 2012-13?
21 July 2012
Pre-construction period interest shall be allowed from the year in which the construction is completed.
It shall be allowed in 5 equal instalments.
It CANNOT be claimed if the construction is not complete.
It shall be allowed in 5 equal instalments.
It CANNOT be claimed if the construction is not complete.
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