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.
So, no deduction will be allowed for pre-construction interest paid/accrued.
Karia Overseas
Ahmedabad
CA
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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