IT RELIEF ON INTEREST OF HBL BEFORE POSSESSION

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  1. PAMPA

    PAMPA New Member

    I and my husband have jointly taken a HBL from bank. The EMI has started from August 2015, whereas we got possession certificate on November 2015.
    Say, My Interest on HBL for the period August 2015 to October 2015 is 'x'
    My Interest on HBL for the period November 2015 to March 2016 is 'y'
    My company is giving me benefit on [y +( x/5)] for FY 2015-2016.
    My question is, Is this correct?
     
  2. Yatin Gandhi

    Yatin Gandhi Active Member

    You will get deduction for the whole year in which the construction got completed.
     
  3. PAMPA

    PAMPA New Member

    Can you please provide me the Clause where it is detailed, so that I can produce it to my Company?
     
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