POSTED BY June 8, 2013 3:22 pm COMMENTS (5)ON
1.I have taken a loan of Rs 25,00,000 from govt loaning agency which does not have a provision of EMI before possession.
2. I paid a total pre EMI interest of 2,15,000 from Aug 10 to Apr 12. Thereafter EMI from May 2012. Paid an interest of about 2,00,000 in this FY. I have taken possession of my house.
3. Certificate from agency mentions the 2 values of interest.
4. How do I take the max permissible tax benefit and what exactly is the ruling on this. My impression was I will get a benefit of rebate on 1,50,000 plus 1/5th of the pre-emi interest.