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Query regarding tax benefit
Is pre-EMI INTEREST given in loan intrest certificate also eligible for tax benefit u/s 24b..?? Pls rply..
Replies (3)
Ms. Sandhya,
Can U explain what is this Pre EMI Interest.. Interest before the EMI period or Pre-Pay of EMI..???
EMI paid during construction.of the house property is Pre-EMI.
Yup it can be claimed as "Pre-Construction period interest" (interest only) which can be claimed equally in 5 consecutive years after satisfying other said conditions of "Pre-Construction Period".
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