Indian Real Estate Forum - www.indianrealestateforum.com - View Single Post - Is the Home Loan interest amount exempted from income tax?

Smantha Sen · 14-02-07

Dear all
I bought a plot in August 2005 and started construction.The house is not yet complete. During Construction upto March 2006, I paid an interest of Rs.14,000 on the home loan to a public sector bank. Is the interest amount exempted from income tax? If so, to what extent and under which section can the rebate be claimed ? there is no income from the house during the relevant period.

14-02-07	#1
Smantha Sen New Member Join Date: Jan 2007 Posts: 32 Thanks: 0 Thanked 0 Times in 0 Posts	Is the Home Loan interest amount exempted from income tax? Dear all I bought a plot in August 2005 and started construction.The house is not yet complete. During Construction upto March 2006, I paid an interest of Rs.14,000 on the home loan to a public sector bank. Is the interest amount exempted from income tax? If so, to what extent and under which section can the rebate be claimed ? there is no income from the house during the relevant period. Last edited by Smantha Sen; 14-02-07 at 12:42 PM.