27 July 2014
If housing loan is taken in the year 2012-2013 for d purchase of residential house...n repayment istallments have been paid including interest till now...bt possession n ownership deed is received in the month of may 2014......will Interest exemption b availed as per section 24b,..n is deduction under 80 c n 80 ee applicable...for d A.Y 2014-15??
28 July 2014
interest upto 31 March 2014 needs to be accumulated and claimed as deduction in five equal installments starting FY 2014-15 (AY 2015-16).
In my opinion, the same should apply to 80C. However, 80EE deduction should be allowed, as there is no restriction placed on the pre-construction interest therein.
CAclubindia
