25 December 2011
When house is under construction then you have to pay pre-EMI interest. But you can not claim any income tax benefit on this pre-EMI interest in the year you pay it to the bank. Pre-EMI interest can be claimed in 5 equal instalments after the construction of the house ends. That is, it can be claimed in 5 equal instalments starting from the FY in which the construction of the house ends and you get its possession.
Abhishek Ranjan Singh ARS Solutions email2ars@gmail.com +91 9022838615
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