Emi subvention on housing loan

Hi All,

I have just planned to buy a Home in which No EMI would be paid by me till possesstion. interst on housing loan taken by me will be paid by builder in my bank account and after that bank will debit the same amount as interst on home loan.

what would be the treatment of the amount credited in my bank account from builder account. will it be treated as income. If yes, can i take the benifit of the interest paid to bank against the said income. 

Please help me on this. Revert required urgently.

Regards

Nitin Maheshwari