Tax Benefits on Home Loan for under-construction house ?

POSTED BY Rohit Mehta ON October 9, 2013 1:17 pm ONE COMMENT

I am residing in Varanasi and i have purchased a flat in Gr. Noida which is still under construction. I have taken up a home loan of Rs. 15 lakh and started paying back the installment.

Can i avail any tax benefit under IT Act.

One reply on this article “Tax Benefits on Home Loan for under-construction house ?”

  1. ashalanshu says:

    Dear Rohit, you can only avail Section 80C benefit upto the limit of 1l Rs. for principal repayment in your home loan. Interest benefit is available only post possession.

    Thanks

    Ashal

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