If a person has taken housing loan from a bank and EMI is being paid to bank, will he or she be eligible for IT exemption on interest even if builder has not given possesion?
Prakash
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Exemption on housing loan
Replies (1)
As far As I knw, Possession or date of deed execution which ever is earlier is assumed to be the date of ownership (as risk and reward is transferred). Therefore, if sale deed has been executed then YES the claim can be made. However, do cross check it once :)
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