home loan interest rebate section

u/s 24(b) 1/5th Interest will be exempt for under construction period for five years and from May 2018 u will get entire interest exemption based on SOP and LOP.

Pre-construction period (from date of borrowing to March 31 immediately prior to the date of completion of construction) interest can be availed as deduction u/s 24b in 5 equal instalments starting from previous year in which construction is completed subject to a maximum of Rs.2,00,000/- limit per annum including current year interest.

Prior period interest will be allowed to be deducted only after construction is over.

u/s 24(b)