u can claim deduction only after completion of construction not during construction of house property in 5 equal annual instalments starting from the year in which the house is purchased or the construction is completed.
For example, if construction of your property completed in FY 2015-16, on 30th July 2015, you can claim 1/5th of interest paid uptil 31st March 2015 when you file your return for FY 2015-16.
Is it allowed to claim the deduction for two properties simultaneously.
Thanks a Lot
CAclubindia
