Can I show Home Loan Pre-EMI Interest in ITR for tax benefit ?

POSTED BY Sonal R Patel ON June 13, 2014 8:35 am COMMENTS (2)

Hi All,

I have taken home loan in Dec, 2013 for home construction at my home town. The EMI payment will in June, 2014. The construction is going to be completed by June, 2014 end and then after I will be issued with ’Completion certificate’

I have paid some amount of Pre-EMI interest in last financial year, which I showed for TAX benefit calculation. Later, I came to know that it is not allowed as I don’t have Completion certificate. This all happened because of my lack detail knowledge.

As I got some TAX benefit, which I should not be, can I apply for TAX benefit revert during ITR filing.

Or, is there any other way?

Kindly give suggestions!!

Regards,

Sonal

2 replies on this article “Can I show Home Loan Pre-EMI Interest in ITR for tax benefit ?”

  1. SHAIKSYBIRHUSSAIN says:
    July 28, 2016 at 9:35 am

    IN THE PRESENT ITR PRE EMI HOW TO GET TAX BENEFIT/WHER IT SHOULD BE ENTERED

    Reply
    1. Manish Chauhan says:
      July 28, 2016 at 12:41 pm

      Hi SHAIKSYBIRHUSSAIN

      This query belongs to CA domain, hence we are not the right people to comment on this issue.

      I suggest you get in touch with a CA for this in your city.

      We also have a CA partner incase you want to explore that, Just fill in your details here and they will give you a complimentary call back

      http://jagoinvestor.dev.diginnovators.site/solutions/ca-services

      Manish

      Reply

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