Can I get tax benefit on home loan during pre-construction period?

Weekly Tax Queries with LiveMint:

In accordance with Section 24 of the Income Tax Act, 1961 (hereinafter referred to as ‘the IT Act’), the taxpayer would not be allowed to claim the benefit of interest deduction unless the construction of the property is completed.
Dr. Suresh Surana, Founder, RSM India, explains eligibility for claiming the interest deduction even in the pre-construction period.

 

Click here to know more

How can we help you?

Contact us by phone +91 22 6108 5555 or submit your questions, comments, or proposal requests.

Email us