Hello sir.
Can I claim interest on housing loan before the construction is complete????
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Housing loan
Replies (3)
No you can't availe benefit in such way,
you can claim the benefit of interest on a housing loan in the year of completion of house.
all the previous accumulated interest can claim in 5 equal installment starting from the year of completion.
No you can't
Yes neither the Interest portion [ Section 24(b) ] nor the Principal repayment portion [ Section 80C ] can be claimed during the construction stage of the House Property. However the preconstruction Interest can be claimed in 5 equal successive installments starting from the year in which the construction is completed.
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