Pre EMI Interest for Housing loan

Hi deduction for housing loan interest is available under section 24(b). For claiming deduction of interest following points are important:

1. Construction should be completed within 3 years from the end of the financial year in which capital was borrowed.

2. Interest for prior period willbe allowed in 5 equal installment.

3. Maximum limit will be Rs. 1,50,000.

If construction is not completed within 3 years as mentioned in point 1. The maximum deduction amount will be Rs. 30,000.

One more point these deduction willbe allowed after completion of construction and principal amount of loan repayment will also be allowed under section 80C

1) TILL THE CONSTRUCTION GETS COMPLETED

>>>>>>>>>>>>>U CAN CLAIM THE REPAYMENT OF PRINCIPAL U/S 80 - C AS DEDUCTION

2) WHEN CONSTRUCTION GETS COMPLETED

 >>>>>>>>INTEREST UPTO THE YEAR PRIOR TO COMPLETION IN 5 EQUAL ANNUAL INSTALLMENTS U/S 24

>>>>>>>>>INTEREST OF THAT YEAR U/S 24

>>>>>>>> U CAN CLAIM THE REPAYMENT OF PRINCIPAL U/S 80 - C AS DEDUCTION

3) AT THE TIME OF SALE OF PROPERTY

>>>>>>>>>>TOTAL COST OF ACQUISTION INCLUDING STAM DUTY, REGISTRATION CHARGES, BROKERAGE, ETC CAN BE DEDUCTED FROM SALE PRICE..

HI,

If payment made for current year interest is 140000.00 and pre acquisition interest is 40000,then in that case can i claim 180000 or 150000 only