housing loan taken in 2001-02 for bungalow and repaid in 2010-11 interest paid Rs. 5 lacs. Construction of bungalow completed in March12 another fresh housing loan taken in April 11 for same bungalow whether Pre emi interest is available as deduction from FY 11-12 on interest paid of rs. 5 lacs in 5 equal instalments . The bungalow is let out and interest of new loan has also started.
CAclubindia
