Regarding House Loan interest deduction

mukeshkb4u (Engg) (25 Points)

10 May 2011  

Dear all,

I have Bought a flat this year in Jan 2011, and have taken a Loan from SBI. 

I have already started the Full EMI on my loan amount. 

My flat is under construction and it will get over by Aug 2012.

Can i claim tax deduction of Interest paid in this Year, as at few places i read that it can not be claimed if the flat is not fully completed in this year and at few places its written that i can claim, if it will be ready within a span of 3years.

 

Kindly help me in this regard.