tax benifit on pre EMI

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  1. Naragani Rambabu

    Naragani Rambabu New Member

    respected sir.
    Can I claim entire Pre EMI amount ie Rupees 4630/-which is Imposed for the period 31.12.15 to 4.1.2016 and paid in jan-16(as single installment) for this A Y 2016-17 only?

    I asked this Question due to--- we purchased a second hand plat paid advance and occupied in the month december 2015,
    plat purchased with a bank home loan, they given EMI date is 4 th of every month,so,--gap period ie 31.12.2015-to 4.1.2016 they recieved as pre EMI amount Rupees 4630/-
    My DDO expressed doubt that this preEMI amount should claim in next five assesment years equally!?but not in this AY 16-17 only.

    What is the correct ?1. shows entire amount in this A.Y 2016-17 only or
    2. shows in five equal amounts in next five years?
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    You can claim the entire amount in AY 2016-17
  3. Naragani Rambabu

    Naragani Rambabu New Member

    Than Q sir.
  4. Naragani Rambabu

    Naragani Rambabu New Member

    Thank you Mr Gaurav_kumar sir,But my DDO not agreed with your answer,He asked that" What is the Act number to support your answer"and he returned my application,

    so ----then I paid full tax on that Rupees 4630/-because I felt tired on this fight!?

    Than Q you everyone, TanQ all.
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