Interest on home loan

Dear Gaurav,

Interest on Government house building advances - In the case of house building advance taken by the Central Government servants under the House Building Advance Rules of the Ministry of Works & Housing, deduction under section 24(1)(vi) would be on the basis of accrual of interest which would start running from the date of the drawal of the advance - Circular : No. 363 [F. No. 168/4/82-IT(A-I)], dated 24-6-1983.