When calculating pre construction period ,
(Assume that no repayment is made)
And if my Completion of construction is exactly on 31-3-2017,
Then my Pre construction period will end on 31-3-17 or 31-3-16.?
If , my completion date was somewhere in between April to March, then I should take 31-3-16 as completion date.
But doubt is for 31-3-17 ?
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House property
Replies (1)
31/03/2016
as 31/03/2017 is date in PY 2016-17 and act says
interest payable for the pre-construction period, i.e., prior to previous year in which such property has been acquired or constructed, shall be deducted in five equal installments commencing from previous year in which the house was acquired or constructed
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