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 1 year ago in Income Tax from Lucknow, Uttar Pradesh
when your construction is completed.
Talk to Shyam Sunder Modani
4.7 on 5.0
on completion of construction or on possession
Asked 1 year ago
You can claim deduction after completion of construction. PRE-EMI component need to be claimed in five installments
Talk to Shashank Surana
4.3 on 5.0
As soon as you receive possession of completed house property.
Talk to Vijay N. Kale
4.9 on 5.0