Home Loan Treatment if Construction not completed in 3 years

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  1. Ajithxyz

    Ajithxyz New Member

    I had taken home loan in Feb 2009 and construction of flat was completed in Dec 2012. The flat is not self occupied. Am I eligible to claim tax benefit for the interest paid during pre construction period in 5 parts, as the construction was not completed in three years.
  2. rudrabose

    rudrabose Active Member

    Yes, you can avail the deduction for pre-construction interest in 5 installments.

    However, as the construction was not completed within 3 years - the deduction allowed would be limited to Rs. 30,000
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