House Property Interest
This query is : Resolved
30 April 2009
sir,
I have purchase land through Loan for Construction of House,but now i did not constructed the House and i am repaying the loan of my with interest.
can i Interest benifite u/s 24b and Principal Benifite u/s 80C.
please confirm.
I have purchase land through Loan for Construction of House,but now i did not constructed the House and i am repaying the loan of my with interest.
can i Interest benifite u/s 24b and Principal Benifite u/s 80C.
please confirm.
30 April 2009
Interest u/s 24b cannot be allowed as there is no house. however principal repayment will be qualified u/s 80C.
30 April 2009
sir,
after complition of home,land interest have to exemption or not
after complition of home,land interest have to exemption or not
01 May 2009
Interest on house property for pre- construction period shall be allowed( in 5 equal installments) for the period during which the construction was in process. If the land was lying vacant and no construction was carried on it , interest for the period shall not be allowed
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