Deduction under income from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2013 In case I take a loan for purchase of a flat in an under-construction building, will I get a deduction for the interest paid on such loan for the period before possession? What date should be taken as a date of acquisition in such cases?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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01 August 2013 interest deduction cannot be taken before completion of construction of house, whateve interest pre construction can be claimed in 5 equal installment after completion