Home loan and year of acquisition

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  1. ashraffkk

    ashraffkk New Member

    Hi ,
    I entered into a tri party agreement for the purchase of an under construction property in March 2013.
    The construction was completed in Nov 2014 and registration was done on the same month. My home loan is for 15 years . I would like to know , if in case I am selling my property after few years, which year should be considered as the year of acquisition.
    Is it the year when property was registered on my name or the year in which I finished liabilities with the bank?
    Also when I consider the cost of acquisition , can I add the interest paid on home loan to the cost of acquisition?

    Thanks
    Ashraf
     
  2. Shishir Nayak

    Shishir Nayak Member

    Yes the year when its registered in your name will be considered.

    Interest on loan cannot be added to cost of house as it is allowed deduction from house property income u/s 24b.
     
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