hi all,
in our company one of employee has taken housing loan and they have started deducting INterest from NOV, whether he can calim preconstruction EMI in this asst.year
Please help me,
regards
hari
hari2009 (Executive) (224 Points)
05 February 2009hi all,
in our company one of employee has taken housing loan and they have started deducting INterest from NOV, whether he can calim preconstruction EMI in this asst.year
Please help me,
regards
hari
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 05 February 2009
Interest of Pre-Construction period is not allowable u/s.24b. It will be allowed in five equal annual installment commencing from the year in which flat is acquired or constructed. However, repayment of Hsg loan is eligible for deduction u/s.80C.
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