Tax deduction on interest on loan for construction of house property
This query is : Resolved
Sneha Ramakrishnan
(Querist)
11 August 2015
Hello! Is the interest paid on loan taken for second house property(under construction) eligible for tax deduction without any limit u/s-24?
Thanks
Thanks
11 August 2015
You can not claim deduction u/s 24 for under construction property now.
However pre- construction interest , after completion of construction will be allowed in five installments subject sec 24 limits.
However pre- construction interest , after completion of construction will be allowed in five installments subject sec 24 limits.
Sneha Ramakrishnan
(Querist)
11 August 2015
And what if the second house has been fully constructed but not let out?
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