Tax Exemption in case of Delayed possession of house ?

POSTED BY spranjan ON December 1, 2013 10:54 pm COMMENTS (2)

Hi,

I have taken a housing loan for second property (to be let out). The loan was taken in Sep 2010. However the possession of the house will be only in Apr 2014. That being 4 financial years, will i be allowed to claim exemption on interest payments or does the exemption work only if the possession is given within 3 financial years.

 

2 replies on this article “Tax Exemption in case of Delayed possession of house ?”

  1. ashalanshu says:

    Dear Spranjan, when did the first installment of your loan disbursed?

    thanks

    Ashal

  2. Credexpert says:

    Dear Spranjan,

    The possession of property should be within 3 financial years, after taking home loan to avail rebate of 1.5 lacs otherwise it will be only ₹. 30,000 only p.a.

    Regards,
    Credexpert
    http://www.credexpert.in

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