• 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 3 years ago in Income Tax from Lucknow, Uttar Pradesh
when your construction is completed.
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

on completion
Shyam Sunder Modani
CA, Hyderabad
1408 Answers
95 Consultations

5.0 on 5.0

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 Consultations

4.3 on 5.0

As soon as you receive possession of completed house property.
Vijay N. Kale
CA, Hyderabad
248 Answers
12 Consultations

4.9 on 5.0

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