Income from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 March 2012 is interest on loan acquire for construction of house property which is subsequently let out, is full amt of interest is deductible ,is there any limit as there is in case of self occupied property.

CA.rajni kalsariya

CA.rajni kalsariya (Expert)
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06 March 2012 interest during the construction period deductible in period of 5 years. 1/5 every year.

Tarun

Tarun (Expert)
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06 March 2012 interest during the period of construction period is allowed 1/5th per year for 5 year from the year of completion. and after completion whole interest is allowed in case of property is let out

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