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Tax benefit of Plot Loan under Income Tax_URGENT

This query is : Resolved 

05 October 2020 Dear Experts,

I have taken plot loan for purchase of residential plot. I paid Rs. 1.95 Lacs for interest component and Rs. 0.85 Lacs for Principal repayment during FY 2019-20.
I will start the construction on the plot in FY 2020-21
Can i take deduction against the plot loan in FY 2019-20:
a. Principal repaid u/s 80C.
b. Interest on plot loan u/s 24(b) - taking limit of Rs. 2,00,000.


05 October 2020 You can't take deduction either u/s 24(b) or under 80C in Fin. Yr 2019-20 since the house is not completed in the said financial year.


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