An assessee paid his housing Loan installments regularly.
house loan appx 40 lakhs. monthly installment 50,000 appx
His bank, *** while giving the certificate, excluding the interest amount for the period the Govt. has asked the banks, not to DEBIT/collect. (i think it is about 6 months ).
As a result, the bank gave the certificate excluding the interest for such period ( ie 6 months )
the assessee could not avail of the exemption benefit interest fully i.e instead of 2,00,000. could avail only about 50,000
As a consequence, he has to pay tax on this 1,50,000 @ 30%
Now please clarify - As the assessee paid his instalments THOUGH THE GOVERNMENT HAS EXEMPTED THE BANKS FROM CHARGING - can he claim interest benefit OR NOT ?
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