Tax benefit on home loan upon receiving possession letter

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  1. Akansh Bhatnagar

    Akansh Bhatnagar New Member

    My builder offered me the possession in May 2015 . I got "offer of possession" letter in May 2015.
    My Home loan was sanction in June 2015 .
    I took the possession in May 2016 , I got "possession letter" in May 2016.

    Now , while claiming the tax benefit from June 2015 to March 2016 on this home loan, it should be calculated from "offer of possession" date or from "possession date" ?

    As, if it would be from "possession date" i.e. (May 2016) then I have to divide my total interest paid during June 2015 to March 2016 in 5 equal parts and need to claim in upcoming 5 years OR if it would be from "offer of possession date" i.e. (May 2015) then I can claim complete interest for this financial year directly all together .

    Please help me to understand the exact rule regarding this .
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