Tax Exemption on Interest if Construction not completed in 3 years

Share This Thread
  1. S Arun Kumar

    S Arun Kumar New Member


    1. Can you pl clarify whether income tax exemption on home loan interest will be permitted once flat construction is completed after three or four years?

    2. Can you pl also clarify whether income tax exemption on home loan taken for under construction project likely to be completed within two years will start once flat is handed over or from the year loan is taken?

  2. Anand Jain

    Anand Jain Member

    1. If the property is not constructed within 3 years, the deduction allowed would be limited to Rs. 30,000 per year
    2. The deduction can be claimed from the year in which the completion certificate is awarded.
Draft saved Draft deleted
Similar Threads Forum Date
Interest exemption of home loan Income Tax Mar 2, 2018
Tax exemption on interest received on PPF account Income Tax Oct 12, 2017
Interest Exemption for self occupied property, not yet registered but living there Income Tax Jul 19, 2017
Home loan interest exemption Income Tax May 3, 2017
Exemption of Interest Payment u/s 234 towards Capital Gains Income Tax Mar 14, 2017