Home loan

Hi Souvik

Deduction for stamp duty paid shall be available in the year in which such amount is paid.

There will be no deduction allowed for principal repayments when the property is under construction.

Interest repayments upto 31 March 2019 (provided construction is completed in may 2019) shall be provided as deduction in 5 equal installments starting from FY 19-20 I.e. year of completion.

Hi,

- Both the benefits will be available next year when construction of property will be completed.

- This year interest will be allowed in five installments as pre- construction period interest.

Thanks

You can get deduction of principal amount and stamp duty u/s 80C this year. However you will accumulate interest till the time construction is completed and then take deduction of interest in 5 years of such accumulated interest + interest of that year u/s 24 upto ₹200000.

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Thank you

Hi,

You will get the both benefit in next year when the construction of property will be completed.

Interest pertaining to pre-construction period is allowed as deduction in five equal annual instalments, commencing from the year in which the house property is acquired or constructed.

You can take the tax benefit for stamp duty if it has been paid this year.

The interest paid this year is the pre- construction interest and this can be claimed equally over the next 5 years after the construction of the property is completed. The principal amount can also be claimed once the property is constructed.

Regards,

Nikhil.

Yes, you will get all benefits in next years when your house construction will be completed.

Hi Souvik,

You will be eligible to claim the deduction for stamp duty in the year in which the payment of stamp duty is made.

Interest deduction u/s 24 - Interest repayments upto 31 March 2019 shall be provided as deduction in 5 equal installments starting from FY 2019-20 subject to maximum limit.

Principal Deduction u/s 80C - Deduction for principal repayments is not allowed during under-construction period.

Hi

Interest benefit is available only after completion of property.. Under construction period can be claimed as benefit in 5 yrs after completion.

Principal benefit available only after completion.No under construction period benefit available

Stamp duty benefit is available in a year in which it is paid.It can be claimed in 80C.

Hope it helps

Dear Sir,

If the purchase agreement is done you can claim benefit of the Stamp duty in current year it self. With respect to interest and principle also you can claim benefit in current year