Housing Loan Interest and Principal payment for Under Constructions

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Ratheesh (Querist)
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16 April 2024 Hi Sir,

I bought an under-construction flat. So, I am paying the interest for now.

Can I claim both the interest and principal payments under Section 24 and 80C respectively?

Thanks in advance

Regards

Nikhil Kaushik online

Nikhil Kaushik online

(Expert)
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16 April 2024 deduction for interest not available during construction period.

For the principal repayment, if I am not mistaken, there is no principal repayment during construction period (check with your bank). Hence, again no question should arise for 80C deduction during this period.

Suggestion: read the bare act. Should help you in developing your understanding of basic issues.

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