08 September 2014
I have taken loan for a flat.EMI payments has already started.Allotment leeter of the flat has already been received and constuction is complete.Builder will hand over the flat in Feb,2015.Registry of the same flat will be done in May 2015.
Can I take benefit of interest and principal repayment in current F.Y.? THe fact is that allotment letter is received but registration is not done in my name till date.Is it necessary to have registration in my name for claiming deductions... or mere allotment letter would suffice....(construction is over and EMI started)?
13 September 2014
As construction of the flat is complete and handed over in Feb 2015, benefit of interest and principal repayment can be claimed in current F.Y.
CAclubindia
