Interest on housing installment

The interest paid till the year before the year in which the construction was completed and the assessee to took its possession, can be claimed under 24b in five equal statements starting from the year in which the construction was completed.

For eg:  house was completed in FY 2013-14, then interest paid upto 31 March 2013 can be claimed in five equal instalment starting from AY 2014-15.

However, if the house was ready to move in when you paid allotment money, then interest paid annually can be claimed under 24b straight away. 

Thus the point of consideration shall be when the house is ready.