Rebate on home loan (land loan and construction loan)

Dear Members,

I have a taken land loan in the year 2011 and i am paying EMI (Principal and interest) since then , but have not claimed any rebate

I have taken a home loan ( construction ) of house in the same land and the construction is completed in Jan 2014 and EMI started.

Now in the year 2013-2014 what are all the rebate i can claim.

Land Loan Principal 30446 Interest 80362

Home constrction loan principal 4347 ,Interest 22341, My  Pre EMI 56,143 

Also please let me know if i can claim any rebate on the principal and interest paid during (2011 to 2013) on my land loan

 

Thanks in advance

madhu

 

Replies (1)
deduction of intt paid before completion of construction of house can be claimed in 5 equal instalments for 5 AYs starting from the year of completion. no deduction of principal portion paid before completion of house. post completion intt and principal will be taken as deduction as usual.

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