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Interest and Principal Payment deduction during pre construction period on Flat purchase


Pallavi P (Job)     26 November 2020

Pallavi P
Job 
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What is availability of Interest and Principal Payment deduction during pre construction period on Flat purchase ??

Can we take deduction of principal during preconstruction period ?

 

Pallavi P

Pallavi P (Job)     26 November 2020

Pallavi P
Job 
 8 likes  129 points

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is there any benefit available of GST paid on Flat Purchase ?

ATUL Y

ATUL Y   26 November 2020

ATUL Y

 69 likes  558 points

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1.only pre construction intrest paid shall be allowed as deduction u/s 24 in 5 equal installment .
2. u can't take deduction of principal paid during pre construction.
3. If u r not engaged in business then no benifit will be available of GST paid
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