section 24(b) benefit-house loan

I am planning to buy an under-construction property. But I am opting for Down Payment (DP) plan, in which the bank will disburse the loan amount in full and I shall pay the margin amount in full. Full EMI will start from the 1st day. My question is: Do I have to claim interest exemption u/s 24(b) during 5 years from the year of completion of the flat (as is normally the case for under construction property), or (since all payments are made in full) I can claim tax benefit for interest payment upto Rs.1.50 lacs in this Financial year itself?


27 views to the post but no answers !!!!! Either my question is extremely silly or extremely tough:P

No.. seriously .. someone please advise..



For an under construction flat your pre-emi payments qualifies only 1/5 of the interest payments. Once the construction is complete and a occupancy certificate is issued you can claim the interest amount completely (subject to 1.50 lakhs in case of self occupied premises).

Total likes : 1 times


Atlast someone replied !! Thanks A V Vishal.


I have bought one underconstruction flat in Mumbai but now due to my job change, I had to relocate to Delhi where I am staying on rent. Since, My property is in mumbai and not yet get the possession but I am paying interest (EMI). Please suggest can I get a tax benefit of both on EMI & HRA (in Delhi)?




Your are not logged in . Please login to post replies

Click here to Login / Register  


  Search Forum



IPC Grand Course     |    x