Hi friends!!!
Income-tax provides for deduction of Rs. 1.50 lacs on account of interest on housing loan in case of Self -occupied house property.
Further, it is provided that any pre-construction interest is allowed as deduction in 5 equal annual installments.
Is this installment of preconstruction interest also covered within limit of Rs. 1.50 lakhs for deduction on interest on Housing Loan?
CAclubindia
