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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2012 one of my client has purchase a land and start to construct the house by taking a bank loan. as in construction, bank release a part payment and still the house is not complete and he has started to pay installment.. so my question is whether he can claim interest under head house property still he is not living in his home.
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CA Navin Jain

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CA Navin Jain (Expert)
29 September 2012 deduction of interest paid before the possession of the house will be allowed in five equal stallment from the year in which possession letter is obtained.
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Pankaj Gupta

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Pankaj Gupta (Expert)
29 September 2012 Agree with the expert's advice.
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