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Pre incorporation interest(house property)
Interest for pre construction/acquisition period is allowable in 5 equal instalment beginning from the year of completion of house property.
but what if that property is sold before the completion of 5 years?
Replies (3)
Can be adjusted against capital gains!
Can we still claim 1/5th portion of remaining interest ??? even if property is sold.
new property also purchased so we already get deduction U/s 54.
" Can we still claim 1/5th portion of remaining interest ??? even if property is sold"
NO. Property sold, home loan accounts closed!
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