I have purchased an under construction property of 75lacs in my name(first time buyer, to be completed in <5 years). Took a home loan of 60lacs(in joint name with my mother) . The builder offers a subvention scheme, in which he pays the Pre-EMI of the home loan till completion of project.
The Lender issues Interest Certificate in my name for the Income Tax Deduction claim under sec 24b.
Am i eligible for this deduction?
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Deduction under Sec24B for subvention home loan
Replies (2)
YES YOU ARE ELIGIBLE PAID BY BUILDER WILL BE YOUR INCOME FROM OTHER SOURCES
Agreed. Additionally you have to accumulate tax rebate during construction period, can claim in five equal installments after possession received.
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