House Property Income

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