POSTED BY July 23, 2014 6:59 pm ONE COMMENT
ONI understand that for under construction property the interest paid out before occupancy can be accumulated and spread over 5 years of so.. Can you please explain in my context assuming my loan starts from June 2012 and possession in June 2014
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Dear Sir,
Any interest you pay from the time your loan is disbursed in 2012 till you get possession of the property, can be claimed as a deduction under Income Tax. This can be claimed over a period of 5 years from the date of possession.
Regards,
Credexpert