Accrued interest on home loan

The total interest shall be allowed as deduction under Sec 24b in 5 equal installments, beginning from the year in which you get possession.

 

Deduction on home loan interest cannot be claimed when the house is under construction. This pre-construction interest can be claimed only after the construction finished in five equal installments.

construction has to be completed within 5years from the end of the F Y in which capital was borrowed

thank you and congratulations

as per act, the construction of property should be completed within 5 years from the end of f. y. in which capital borrowed to claim interest on borrowed capital as deduction. but there are lots of case laws in favor of assessee which permits to claim interest on borrowed capital as deduction even if the construction has not been completed within 5 years

ramakrishnan sir which cases