Rajib Majumder (45 Points)
23 April 2024Hi,
Can somone please clarify if I can claim deduction u/s 24(b) for the pre-construction interest, if the property was let out in the FY when I'm claiming the deduction ?
Also, is the home loan need to be still running in the FY when I'm claiming the deduction ?
Thanks
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 23 April 2024
pre-construction interest can be claimed in 5 equal instalments from the year in which the house was completed. If it is not let out, the limitation placed on claim for loss under house property will kick in.
no, the home loan need not be active for claiming the pre-interest deduction.
Rajib Majumder
(45 Points)
Replied 23 April 2024
Thanks for the clarification.
So, I can claim the pre construction interest even if the property is let out, right ?
CAclubindia
