Tax benefit on Housing loan interest u/s 24(b)

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  1. Mahendra Rajput

    Mahendra Rajput New Member

    Hi,
    My house is constructed over a period of 5 years due to delay from builder. The amount is disbursed as per the construction stage. Upon getting the possession, will I be able to claim tax benefit until 2Lacs u/s 24B because the last disbursement is not exceeding 3 years before possession? Or it will be only 30k because the time duration is calculated from first disbursement.
     
  2. Parul_Gupta

    Parul_Gupta Active Member

    The interest deduction under section 24 wld be limited to 30,000 only as the time duration wld be considered from 1st disbursement.
     
  3. Mahendra Rajput

    Mahendra Rajput New Member

    Can you please refer me the actual excerpt from income tax act leading to this conclusion.
     
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