24 August 2014
Can assessee claim deduction for principal repayment of Housing loan before completion of construction of House property under section 80C of Income Tax Act, 1961?
24 August 2014
No. Tax benefit of home loan under section 80C for repayment of principal part of the home loan is allowed only after the construction is complete and the completion certificate has been awarded. No deduction would be allowed under this section for repayment of principal for those years during which the property was under construction.
CAclubindia
