Tax on property

I have purchased 2nd flat through bank loan which is under construction. I have started full EMI on that and incurring interest on full EMI. When should I declare this for benefit on interest on loan?
Asked 2 years ago in Income Tax from Lucknow, Uttar Pradesh
when your construction is completed.
Shyam Sunder Modani
CA, Hyderabad
1367 Answers
5.0 on 5.0
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on completion
Shyam Sunder Modani
CA, Hyderabad
1367 Answers
5.0 on 5.0
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You can claim deduction after completion of construction. PRE-EMI component need to be claimed in five installments
Shashank Surana
CA, Chennai
60 Answers
4.3 on 5.0
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As soon as you receive possession of completed house property.
Vijay N. Kale
CA, Hyderabad
248 Answers
4.9 on 5.0
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