How to get tax benefit on a under construction flat which I sold ?

POSTED BY walmart_connect ON December 12, 2013 8:35 am COMMENTS (2)


I bought an under construction flat from a builder, took a home loan of 220000 in 2011. I kept it for around 1.5 years and paid 2 laks of pre EMI as interest. I sold it and the time I sold it was still under construction. I know the income tax benefit can be availed on the interest paid in equal amount for 5 years, but only if the possession is provided by the builder.

Need help on how to avail the tax benefit in this situation.



2 replies on this article “How to get tax benefit on a under construction flat which I sold ?”

  1. ashalanshu says:

    Dear Yash, in your case, it’s STCG, hence all the STCg amount ‘ll be added into your income from all sources and you w’d have to pay tax at your slab rate. Regarding the interest paid, you can add it in your purchasing cost.



  2. Credexpert says:

    Dear Yash,

    Under Pre EMI, the deduction will be allowed only once an individual gets the possession certificate. We would suggest that you directly consult a tax advisor who would guide you with the details since in your case the flat has been sold before possession.


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