Ankit Rajpara None 27 Points. I know that when the interest of construction period is given we can claim deduction in 5 equal installments. You cannot claim any deduction in the previous year As the constructed was completed on You can start availing deduction of Rs. So the 5 years will be , , , , Therefore you can deduct Rs. Neha Jhanwar article Points Replied 08 August Yes, you can avail exemption in the previous year , as it is calculated as per arpit's answer.
Its right. U can claim exemption in that year. And one more thing. If it is a let out property the interest paid housing loan interest has no limit and with that this Rs.
This is over and above the normal interest paid. Interest for the period prior to acquisition or construction of the premises would be deductible in five equal instalments starting from the year in which property is acquired or constructed. You may avail deduction from the year and onwards.
The deduction will be completed in and during the year no deduction for the expenses will be allowed. Your are not logged in. More Post. India's largest network for finance professionals. Next SlideShares. You are reading a preview. Create your free account to continue reading.
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