I need clerifcation from home loan expert that whether any provision for tax benefit on house loan Pre-emi interest for my case who’s builder giving flat possession after 3 financial year.
My case is like ,
I taken home loan from HDFC back in FEB-2007. Till now I am paying pre-emi to HDFC bank and not yet receive flat possession from builder. The builder told that he will give possession in next year July 2011.
So I have approx 2.5 lakh as pre-emi interest in following finance year
FY 2007-2008 : PRE-EMI
FY 2008-2009 : PRE-EMI
FY 2009-2010 : PRE-EMI
FY 2010-2011 : PRE-EMI
FY 2011-2012 : will get possession in flat
will I get any tax rebate on 2.5 lakh pre-emi interest which I paid in last 4 finance year 2007-11 under section 24C next year ( F.Y. 2011-12 ) onward like other are getting to divide all pre-emi in 5 equal installment ?
Also how will be hoam loan will be treat next financial year onward.
What is criteria in income take who house home possession take more then 3 finance year ?
I need expert advice . I am not getting very much clear answer for my case ?
Thanks in advance
Vikas kakkar
9620244420
CAclubindia
