I have an SBI home loan, which I want to pay and close before the full disbursement is over, during the construction phase. Would I be able to claim tax benefits under 24c, 80c and 80EE once I take possession of the property?
I have an SBI home loan, which I want to pay and close before the full disbursement is over, during the construction phase. Would I be able to claim tax benefits under 24c, 80c and 80EE once I take possession of the property?
You may claim deduction on account of payment of stamp duty for registration of property u/s 80C.
Other deductions like interest u/s 24(b) and 80EE as well as repayment of principal u/s 80C cannot be availed because such deductions can be availed only after the construction is over and in your case, you are closing the loan even before the construction is complete.
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