Deductions on home loan

kishorchandra p mehta (Querist) 19 March 2015 This query is : Resolved

Sirs,

I would like to have guidance in connection
with following :

I have purchased flat and have paid majority amount and last and final amount is to be paid now as the flats are ready and builder is ready to give possession in this month of March,2015 but it is likely that the registered sale deed (Registration)may take some time and therefore if I get the Registered sale deed in April,2015 (though I have paid entire amount in March, 2015 and have obtained possession letter also in March 2015)in that case whether I will be able to claim deductions of Principal Amount of loan and interest of Home Loan during the F.Y.ending 31.3.2015 ?
Kindly guide me at the earliest.

Thanking you, K.P.Mehta.

Follow Query

Report Abuse

M/s. Y-not legal services (Expert) 19 March 2015
Legally there is no mandatory for dediction.. Even its may be your amicable terms and condition..

Rajendra K Goyal (Expert) 19 March 2015
Consult local tax consultant.

malipeddi jaggarao (Expert) 20 March 2015
You can claim these amounts as exempted income within the prescribed ceilings.

sivakumar.k (Expert) 20 March 2015
with the receipt of sale amount you submit before the tax autorities

T. Kalaiselvan, Advocate (Expert) 21 March 2015
Well advised by expert Mr. Malipeddi Jagga Rao, you may follow the suggested measure.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries