Home Loan for Construciton

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2011 Hi Friends,
I am in Bangalore, India. I purchased a Land & then taken Loan for construction of House on that land. We completed the home construction within the same fiscal year.

Now i have 2 questions:
1. Can i claim Pre-EMI Intrest taken up for the home loan? If so, how much i can exempt Pre-EMI Intrest?

2. Can I claim "Stamp Duty & Registration Charges" made towards registration of the Land Taken?

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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14 February 2011 Interest of Pre-construcrtionh period is deductible in Five equal instalment. The instalment commence from the year in which construction of the property is completed.

Stamp duty & Registration charges paid on land is not allowable u/s 80C of the IT ACt

Querist : Anonymous

Querist : Anonymous (Querist)

14 February 2011 Thank you very much Mr.Sunil sir!!!

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