I have taken a loan for an apartment which would be completed (possession) in June 2016. Can I get exempted on the interest and principal for loan? If yes to what extent?
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Query - home loan
Replies (4)
Dear Ankit
you are not allowed to take benefit of interest payment u/s 24 unless and untill you would get the possession of house. but you will get benefit of interst paid from the year when you will take possession of property.
but you can claim benefit of principal amount paid u/s 80C now
AGREE WITH MR. ANKIT.
ACCORDING TO ME , RIGHT NOW YOU CAN'T CLAIM ANY DEDUCTION
PLEASE REFER
www.charteredclub.com/tax-benefit-on-home-loan/
COMPLETELY DISAGREE WITH SUKSHAM.
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