Deduction for Pre-construction Interest

To avail Pre Construction Interest:

You need to fullfill as following conditions:

1) When you have taken a loan for the purchase or construction of a house property, you can claim a deduction on pre-construction interest.

2) However, this is not allowed in the case of the loan for repairs or reconstruction. 

3) The loan has been taken after 1st April 1999 for purchase or construction

4) The acquisition or construction is completed within 5 years from the end of the financial year in which the loan was taken

5) There is an interest certificate available for the interest payable on the loan.

6) Pre-Interest can be claimed upto Rs.2,00,000/-

7) Pre-Interest can be avail 1/5 after completed construction within specific period.

Please consultant with your Tax Accountant or Chartered accountant.

Without NOC from your builder you can't declare that your construction has been completed. 

You may discuss with a local lawyer and first issue a legal notice and after that you can plan further legal action against the builder. 1. IF your agreement is duly registered & Stamp Duty paid, THEN builders NOC or any other document is not required, at all.

Thanks