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Jasabanta behera

Tax benefit for prepossession loan repayment...
Hello Sir
I have 2nos of loan against same home from 2014/15. I never claimed return against the Intrest paid by me bcoz house was on construction
Now it is handed over to me so Plz let me know the process how to claim my last 3/4 yrs refund
Thank you
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Amlan Dutta
Whatever preconstruction interest you paid, divide that in 5 parts i.e say your preconstruction interest repayment component was for all 4 years( 2014, 2015 , 2016 , 2017 was 6 lakhs ...so , 5 parts would be 6/5 =1.2 lakhs which you can claim over five years ...say, now you got possession in 2018 ...
  • July 17, 2018
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SANJEEV KUMAR SRIVASTAVA

Tax benefit for prepossession loan repayment...
My wife has booked a flat in NOIDA in December 2014. We have not get possession of the flat till now. It is expected in March, 2019.

She is not getting tax rebate since 2014 because the flat is under construction.

You are requested to please elaborate me that how can she claim the benefit of the hom...
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Amlan Dutta
Since you shall get possession in March 2019 ( FY 2018 19 ) , you can start claiming benefit of under construction loan interest only starting FY 2018 - 19 . Whatever home loan interest , you have paid in the prepossession period , you can claim it 1/5th each year starting 2018 19 on wards along ...
  • June 23, 2018
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