Sir,
My one client sale under construction property self occupied 1 BHK flat and same project purchase 2 bhk flat self occupied on home loan taken in around June 19. Builder possesion given around Dec 2020.
My Q is
1) taz benifit home loan interest allowed 2L or 30k (Int paid fy 1920 4L)
2)80C allowed 1.5L under construction property ( repayment 1.7L)
Menu
House Property Income
Replies (4)
Quick Summary
Dear Sir,
Here are the answers to your query:
1) Assuming home loan is taken for under construction property of 2bhk, you cannot take interest benefit till the time of actual possession. You need to wait and when possession is taken, in that year you can claim this interest in 5 equal instalments.
2) Yes, section 80c benefit is allowed till Rs. 1.50 lacs p.a.
For more information, kindly drop email to psandac @ gmail.com
Ok Sir Thanks
Yes, you can claim this interest benefit as pre-construction interest in 5 equal annual installments.
Yes sir
Recent Topics :
- Guidence requested for a Finance Professional with
- Expert Opinion Required – Form 140 Gross Amo
- WRONG TAX DEMAND - formal responses , rectificatio
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
Related Topics :
CAclubindia
