I have a question on Pre-EMI. I understood from various forums that Pre-EMI interest can be claimed in 5 equal parts post completion of house construction. I would like to know if this Pre-EMI interest can be claimed on top of 2L interest? For Example: 5L Pre-EMI would be divided into 5 equal parts which means 1 lakh can be claimed after completion of construction. From next year onwards, I will be paying emi interest of more than 2L. So in an AY, can I claim interest of 2 lakhs + 1 lakh from Pre-EMI. Or would this be within cap of 2 lakhs. Kindly suggest
Menu
Query on pre-emi
Replies (5)
if it's let out property then you can claim both pre-period interest and regular interest over and above 2 lakhs. but if it's self occupied then you can claim only 2 lakhs and the balance interest and pre-period interest can be carried forward to next year
Thank you Mr.Ramakrishnan
welcome bro...
But again the balance interest and pre-period interest cannot be over and above 2 Lakhs for the next year?
yes... but you can carry forward your loss to a maximum of 8 a.ys and set off accordingly
Related Topics
CAclubindia
