Housing loan repayment made during construction period.
This query is : Resolved
21 February 2013
I need an opinion on deduction allowable U/s.80C on house loan principal repayment made during the FY 2011-12. The house loan was taken for purchasing a FLAT the construction of which is yet to be completed.
Earliest opinion from your end shall highly be appreciated.
Earliest opinion from your end shall highly be appreciated.
27 February 2013
Yes, it would qualify for exemption u/s 80C for FY 2011-2012.
27 February 2013
Thank you sir for your valuable opinion on this matter.Further specific points regarding the pricipal repayment during the construction period not show in the IT Act like pre-construction interest.
17 August 2023
Construction period interest is deductible only after getting possession in five equal installments.
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