POSTED BY September 24, 2013 9:16 am COMMENTS (4)ON
I took a home loan in July 2011 and I got possession of my flat in Jan 2013.
I read some articles where it is said that interest and principal can only be claimed after possession. And that the interest accrued in pre-possession period can be claimed in 5 equal installments in next 5 years but it should be under the 1,50,000 cap only.
The pre-possession interest that I paid was 130,000 but then during 2012-13 year also the interest that I paid is 1,50,000. So does this mean that I can’t claim the interest amount that I paid in the pre-possession year?