POSTED BY December 1, 2013 10:54 pm COMMENTS (2)
ONHi,
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.
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Dear Spranjan, when did the first installment of your loan disbursed?
thanks
Ashal
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