TDS
This query is : Resolved
22 March 2010
Can I clain tax rebate on under cosntrcution house. (possession letter will received only after completion of construction. ).
Aditya Maheshwari
(Expert)
22 March 2010
If you have taken housing loan against the house then the interest paid before the year in which construction is completed is allowable in 5 equal instalments from the year of completion for 5 years
22 March 2010
There is no rebate. Only deduction under section 24(b) and 80C of the Income tax Act,1961. As far as interest portion(24 b) is concerned Aditya Sir had given an answer for which I too agree. Regarding the principal repayment(80C) deduction will not be allowed since house is under construction/possession yet to received.
CA Ashok Kumar Sahu
(Expert)
22 March 2010
agreed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Working on Gold wastage during Melting of old gold jewellery
- Intimation under section 245
- Urd purchase entry in tally prime
- GSTR-9C filing
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
