Loan and tax rebate

Tax queries 90 views 1 replies

Subhash Kothari

20 Points Joined June 2016

Hello

Can I get any tax benefit on home loan (either on interest or on principal) if the home loan has been repaid to bank?
If it has been repaid before five years post home completion, can I continue to claim pre construction interest benefit until five years?

Thanks

Replies (1)

Sanjay Goyal

9 Points Joined March 2017

yes you can for ex-you have taken house loan of rs.200000 and repaid earlier from home completion the pre completion interest benefit you will get as deduction first five year of home completion.i think it will be helpful for you