Hi Team ,
I have purchased a property in pune and was applying for a home loan in SBI . Recently I got a call from another home loan provider which gave me attractive benefits compare to SBI. The one benefit which attracted me more was the tax benefit on the under construction property. According to him if the bank is issuing a tax certificate with the principal and the Interest breakdown then one can claim for the under construction property as well. I am not sure whether this is even true or not because I have read article that I can claim tax benefit only after the possession.
Could you please let me know if we can claim the tax on under construction property or not.
Thanks
Debasis Nanda