Consideration of interest & paid in fin. year 2015~16

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  1. Alok Jauhari

    Alok Jauhari New Member

    Dear Sirs
    I have one house which I have occupied already and taking benefit of Interest and principle. and I have another new house which will be handed over to me in march 2016. I am paying the EMI for new house from Oct-2015 to March 2016. My quarry is can I take the benefit of Interest and principle in current year(FA. 2015~16) or not. If answer is yes than another question is, amount of EMI from Oct to march? and should I show the new on rent? if yest than from which month?
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, you can claim the Interest Deduction for the current year. Your banker would have issued you a statement of the interest levied for the financial year 2015-16
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