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treatment of interest in loan
if aperson take DLF house and having home loan on his house but did not having possession till now then what will b the treatment of interest in loan
Replies (3)
If possession received within 5 years of loan disbursement, then the accumulated interest can be available for deduction u/s. 24(b) of the act, in five equal installment.
no possession rcvd in March which was more than 5 years
So, no deduction will be allowed for pre-construction interest paid/accrued.
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