1. Interest for pre-acquisition/pre-construction period shall be allowed as deduction in 5 equal installments starting from the previous year in which the house is acquired or the construction is completed and for the next 4 successive (continuous) previous years.
2. It is applicablein both let out and self occupied situations.
3. If you repay the principal during pre-construction period to lender, then this is not eligible for tax deductions.
| Originally posted by : Sumanth vinayakam | ||
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which combination of cash and cheque is advisable to receive proceeds amounted to 35lks on sale of urban residential house??please clarify |  |
You may receive up to Rs. 2 lacs through cash and balance Rs.33 lacs through cheque/bank transfer
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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