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.
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