Preconstruction period interest

As far as I understand, I think the provision clearly states 5 EQUAL installments, so you cannot add the lost interest deduction to the balance 3 years and change the installment amount.

I think you cannot take the benefit of the lost interest due to this equal installment pattern.


I Maybe wrong, so please wait for anyone else to clarify as well.

Dear Amit,

in case of Self occupied property, maximum deduction allowed for interest is INR 150000/- including interest for preconstrucion period. Hence in that case you are not allowed to take benefit of more then that.

apart from this you are also not allowed to carryforward the unclaim interest to next year.