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Claiming of Interest of Housing loan
I get the housing loan and still now I did not begin to construct the house now I am paying the interest of housing loan. Whether now I am able to get deduction under house property as pre construction interest?
Replies (2)
All pre-construction interest will be accumulated till it is complete.
And thereafter such interest will be claimed in next five years equally (20% each year for next five years) alongwith that year's regular housing loan interest subject to maximum of limit of 2 lakhs
And thereafter such interest will be claimed in next five years equally (20% each year for next five years) alongwith that year's regular housing loan interest subject to maximum of limit of 2 lakhs
Thank you sir for your reply
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