Home loan interest deduction

Kapilesh Prakash (AGM) (25 Points)

27 October 2012  

I took a home loan in November 2010 and am expecting the delivery of the flat in June 2015.

1.Since this is post the 3 year period as mentioned u/s 24b, I wanted to know that once I get pocession of the flat in 2015 and start staying in it, as per current laws will I be allowed to claim a deduction of INR 150,000 or 30,000. 

2. Will I be allowed to claim any dedection with respect to the pre emi paid by me till the time of pocession.

3. In case I can claim both of the above, what are the individual amounts against which I can claim deductions?