I have a property for which I'm already claiming tax deduction on interest for last 7 years (shown as self occupied). Now I've booked an under construction property (completion expected in Sep 2021). I've taken a home loan on the same and first EMI paid in March 2019.
I have Three questions
1. Do I for ITR 1 or 2 (I'm a salaried individual. No other income)
2. Do I show the second property (under-construction) in my ITR?
3. Can I claim deduction on the EMI interest component of the home loan on the under construction property?
Would be grateful for any advise..
CAclubindia
