HOUSE PROPERTY

The time between the date on which loan is taken and 31 March of the year immediately before which the property is acquired or construction completed is called the pre-construction period.

thanks for replying.

then in my question the preconstrcution period will be from 1.4.04 t0 31.3.07? Am I right?? actually i am getting confused wether the preconstruction period will be from 1.4.04 to 31.3.07 or from 1.4.04 to 31.3.08? plz help

Ok, as per the language..

It should be 01.04.04 to 31.03.08... But just wait, let me take confirmation from some reliable source

Dear Dhiraj.....

I also feel that it will/should be 31.03.08.......

Dear Friends,

Dhiraj Bhai has sited  the provision............

So no doubt about it Pre construction period is from 01.04.2004 to 31.03.2007 (& NOT 31.03.2008)

Yes the preconstruction period is from 01.04.2004 to 31.03.2007

Dear Amir bhai......

The construction complete on 31.3.08.....so it should be 31.03.08.........why 07.......

Hi amir, yaar i got confirmed...

It should be 01.04.2004 to 31.03.2008

I visited a no. of sites and referred few examples....

But still, if u r sure, then do tell us the source

Dear Dhiraj

You yourself have quoted the law on the same that "the time between the date on which loan is taken and 31 March of the year immediately before which the property is acquired or construction completed is called the pre-construction period". Since construction is completed on 31st March. 2008 the 31st March of the preceeding year which is 31.03.2007 should be taken.

Prior period int is the interest frm date of borrowal till the end of the FY immediately preceeding the FY in which construction completed/property purchased.. since 31.3.2008 is the last date of the FY in which was construction was completed, the prior period is from 1.4.2004 - 31.3.2007

pre-construction period is FROM 1.04.04 TO 31.O3.07

DEAR BROTHERS,

PRECONSTRUCTION PERIOD IS THE FINANCIAL YEAR ENDING ON 31ST MARCH OF THE IMMEDIATELY PRECEDING YEAR OF THE FINANCIAL YEAR IN WHICH THE HOUSE PROPERTY WAS COMPLETED.

THE PERIOD IS FROM 01.04.2004-31.03.2007

I agree with Aditya, pre construction period from 01.04.04 to 31.03.2007

Thanks Friends for clearing my doubt

I have also checked some site in the net. There is a sum. Later on I find that sum. Here is the link.

https://www.slideshare.net/divinvarghese/income-from-house-property-new-2008-09-assessment-year-presentation

Go to pg no 75. In pg no 75 you can find it. There is a similar kind of sum.