One reply on this article “Bank is not ready to issue the Interest Paid statement until possession”

1. Credexpert says:

   July 24, 2014 at 11:05 am

   Dear Sir,

   Pre-EMI interest can be claimed as a deduction under Income Tax only after you get possession of the property, over a period of 5 years from the date of possession.

   However, if you have paid interest during the year, the bank is required to give you the interest certificate for the same.

   Regards,
   Credexpert

   Reply

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