Can pre-construction period interest be claimed as deduction in addition to Rs. 150000 for a self-occupied property?
eg. current year interest paid - Rs. 195000
preconstruction period interest - Rs. 245000
What is the maximum deduction to be claimed ?
Hi Friend,
In case of self occupied property - Aggregate of deduction on account of Interest shall not exceed Rs. 1,50,000/- (inclusive of pre-construction period)
You can not claim deduction more then 150000 in case of self occupied house property.
Agree with Amir bhai.....
Self occupied property -Deduction in respect of Interest shall not exceed Rs. 1,50,000/- (inclusive of pre-construction period).....
Self occupied property can claim only upto 1.5lakhs. Including interest of current year and pre construction period interest..
150000 max...including current year and pre construction period...
CCI
Pro
CAclubindia
