ITR 1 Pre EMI Declaration

ITR Filing 222 views 3 replies

I bought home loan of 40 Lakhs on Feb 2020 for under construction property in Chennai. It was completed on Jan 2022

As Loan Interest for Feb 2020 - Mar 2022 I have paid 4.5 Lakhs where can i declare in ITR-1. I am having options on "Income Under House Property" and "80EE" and "80EEA"

Clear Inputs will be helpful, Thanks in advance

Replies (3)

80EE and 80EEA are additional benefits given by govt for affordable housing. Check the section 80EEA conditions to see if you are eligible for the same. If not please claim the same under income from house property itself.

also chk the calculation of pre construction interest eligible (normally it is total preconstruction interest can be claimed in 5 equal installments) before claiming the exemption

Agreed with sreevidhya

Thanks for your Inputs


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