Surendra Gupta (Partner) (97 Points)
03 November 2010I had taken a housing loan and interest for the pre-construction period (1/5th) was claimed in the first year after construction was completed. During the second year, an agreement for sale of house was entered into and during the third year house was sold. Can I claim the remaining interest (4/5th) during the second year or third year.
karan challani
(article)
(82 Points)
Replied 05 November 2010
no....it has to be claimed in the 3rd 4th and the 5th consicutive year only...... in the following years u will have a negative figure from house property which can be set off against other head of income.......
CA.Madhusudan B.P.
(Chartered Accountant)
(1157 Points)
Replied 05 November 2010
SG
When you have sold the property in 3rd year after the completion, thats over you cannot have anymore benefit.
You cannot claim the interest
SUDHIR & PRADEEP JI
(CA FINAL+LLB + DISA)
(2299 Points)
Replied 06 November 2010
no he can not claim the int. u/s 24
CA Rupesh Agrawal
(Chartered Accountant)
(854 Points)
Replied 06 November 2010
no frnd interest cannot be claimed.
CAclubindia
