house property

THE PRE CONSTRUCTION INTEREST IS DEDUCTIBLE FROM HOUSE PROPERTY INCOME IN FIVE EQUAL INSTALLMENTS

WHERE FIRST INSTALLMENT CAN BE CLAIMED IN THE YEAR OF COMPLETION

Pre construction interest is the interest paid  from the date of borrowing loan upto the date of completion of construction / upto date of repayment of loan wheichever is earlier.

Such interest is allowed in 5 equal installments.

POINTS TO BE NOTED:

1. If the date of completion of construction is earlier than date of repayment, then pre construction period is restricted to preceeding March.

2. If date of repayment of loan is earlier , then pre construction period i s upto the date of repayment.

HOPE U ARE CLEAR NOW

AGREE WITH DHEERAJ AND AISHWARYA........

agreed with answers

preconstruction period means from the date of borrowing of loan          to       31/3 immediatly preceeding to date of comletion of construction       or    date of repayment of loan which ever is earlier, in between period called pre construction period  , thus pre construction period interest shall be deductible in five equal installments starting from the year of completion of construction

Agreed with Dhiraaj

preconstruction period means from the date of borrowing of loan to 31/3 immediatly preceeding to date of comletion of construction or date of repayment of loan which ever is earlier, in between period called pre construction period , thus pre construction period interest shall be deductible in five equal installments starting from the year of completion of construction

agree with chaitanya

Originally posted by : chaitanya
	preconstruction period means from the date of borrowing of loan          to       31/3 immediatly preceeding to date of comletion of construction       or    date of repayment of loan which ever is earlier, in between period called pre construction period  , thus pre construction period interest shall be deductible in five equal installments starting from the year of completion of construction

 AGREED WITH MS. CHAITANYA,

REGARDS,

MANOJ

WELL EXPLAINED BY R.G.Ayyswariya
 

THANK U SIR

PLEASE REFER VK SINGHANIA ITS TOO EASY.