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Interest deduction
I have taken home loan for purchase a land and construction of home in 2013-14 & construction didn't complete yet. I am paying monthly bases installment.. In 2013-14 I have paid approx 300000 as repayment. Bank charged approx 150000 interest in 2013-14.
can I take interest deduction in itr f.y. 13-14? whats amount of deduction &.which section?
Replies (1)
deduction of intt is available only on completion of construction of property. it cannot be claimed before completion.
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