06 July 2020
Hi, I have bought a property in August 2019. And started payment of Home loan from September 2019. The property was under construction at that time. I have received the Completion certificate on 15th May 2020. Interest paid from September 2019 to March 2020 = 2,84,000 Provisional Interest amount from April 2020 to March 2021 = 4,83,000
I would like to know: 1. Will I be able to get exemption for the Pre-construction amount paid from September 2019 to March 2020 while filing the Income tax for financial year 2019 - 2020? If YES, is it beneficial to claim the whole amount at once as I found that it can be used for exemption in 5 separate installments? 2. Also, will I be able to claim the Stamp Duty/Registration charges in Income tax filed against financial year 2019 - 2020?