I have bought a flat for which the registration of the under-construction building(flat) was done in January 2016. I have taken SBI loan and the builder got the first cheque in January 2016.
Three years past. The building is not completed yet and possession in my flat was not done.
As per tax rule the possession or handing over of the flat must happen within 3 years to claim tax benefit on the SBI loan
Is there any clause to claim tax benefit?
The 3 years period has been extended to 5 years.
CAclubindia
