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...
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