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Deduction against home loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
04 June 2013 Dear Sirs,
I purchased a residential flat in year 2010 under construction linked plan and also availed bank home loan for that. Possession has yet not been given to me as construction is still going on. My question is ,am I entitled to deduction of the principal amt. and interest amt. at the construction stage or after the possession is handed over/flat is registered in my name and what will be the exact quantum of deduction under each head.
Kindly respond soon.
Thanks
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
15 June 2013 yes. under sec,80C there is no conditions for claiming principal. so you claim

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