If a person possessing a house property, and has claimed PRE EMI interest
sells it off within 2 years then :-
1. what should be done of the remaining Pre EMI interest?? can it be claimed??
4 Replies
Pankaj Arora
(Learner)
(3134 Points)
Replied 17 January 2011
You can take deduction of only yearly interest paid on emi.
Batul
(Article assistant)
(207 Points)
Replied 17 January 2011
Pankaj,
See pre emi can be claimed in 5 yrs right??
suppose that 5 years period i from 01.04.2006 to 01.04.2011
now if the property is sold on 01.04.2009
then can we still claim deduction of the pre emi interest for remaining two years??
plz help
Pankaj Arora
(Learner)
(3134 Points)
Replied 17 January 2011
Please let me know that when did u paid remaining loan amount to bank.
SUSHIL KUMAR
(STUDENT)
(47 Points)
Replied 17 January 2011
No, you can,t claim pre emi interest deduction for remaining two years, because deduction can be claimed when it is paid, but in this case you don' t have the house property for the remaining period.
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