Dear sir whether deduction u/s 24 (b) for interest of housing loan allowed for A/y 2020-21 if possession letter received in 1st April-30th June,2020 ?
Regards
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Quick Summary
This discussion clarifies the eligibility for deducting housing loan interest under Section 24(b) for the Assessment Year 2020-21. It confirms that the date of property registration, not the date of possession, is the key factor for claiming the deduction. Therefore, if your loan was taken and property registered in the relevant period, you can claim the interest deduction even if possession is received later.
Loan taken in oct' 2019 & registration made in Dec, 2019 but possession will be taken in June 1st week, 2020. kindly suggest sir..can I claim the interest deduction?