CA Santosh Kumar Eligeti
(Partner)
(151 Points)
Replied 15 November 2014
Ms. Sandhya,
Can U explain what is this Pre EMI Interest.. Interest before the EMI period or Pre-Pay of EMI..???
Mihir
(Wealth Manager)
(5293 Points)
Replied 15 November 2014
EMI paid during construction.of the house property is Pre-EMI.
CA Santosh Kumar Eligeti
(Partner)
(151 Points)
Replied 17 November 2014
Yup it can be claimed as "Pre-Construction period interest" (interest only) which can be claimed equally in 5 consecutive years after satisfying other said conditions of "Pre-Construction Period".
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