In FY 2022-2023, I did not report the interest on the home loan under section 24(b) to my employer in the investment declaration sheet and therefore it is not reflected in Form 16. I have completed the IT return for AY 2023-2024. I took possession of my house on 5 August 2023. Can I file the revised return showing the home loan interest?
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Home loan interest missed in FY 2022-2023
Replies (6)
Quick Summary
Yes, You can file.
And keep supportive documents for future reference...
And keep supportive documents for future reference...
The interest component till March 2023 is prior period interest and you cannot claim it at a stretch. 1/5th of prior period interest has to be claimed for next 5 years including the current year
It depends on the completion of the house. interest upto 31st march preceding the year of completion it is pre-construction interest which cn b claimed in 5 equal installments from the year of completion.
When was the construction completed ?
You may start claiming interest and principal from current Financial Year
Preconstruction period interest also can be claimed for 5 years
You may start claiming interest and principal from current Financial Year
Preconstruction period interest also can be claimed for 5 years
Pay along with interest.
House should be there to claim the housing loan and interest
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