09 January 2020
I booked the flat on construction linked EMI plan in 2009 and got the possession in 2017. However builder also charged me Interest on delayed payment of EMI. Please suggest If I can claim this interest u/s 24 of the income tax act. For example, if the interest is Rs 100, Can I claim 1/5th of the same Rs 20.00 in next 5 financial years after possession u/s 24 or other section of the IT Act.
Please suggest along with IT rulings and case study in such cases.
CAclubindia
