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house property
Can preconstruction interest be claimed even if the house property is sold within 1 month of its completion?
Replies (2)
Yes 1/5th of the preconstruction is allowed as deduction which should not exceeds Rs.200000lac.This 1/5 will be allowed starting from the year in which house is purchased or construction is completed.In your Case you had sold your house property within 1 month so you can claim the preconstruction Interest which you had paid.
thank you
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