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

Jack · 14-02-07

Hai Smantha,

As I know,

Income Tax exemption can be sought only once the construction is complete. You can seek tax benefits only from the financial year in which the construction is complete. There will be no deduction for the year in which the construction is still on as at the end of the year. So for the year ended March 31, 2006, there will be no; tax benefits.

14-02-07	#2
Jack New Member Join Date: Jan 2007 Posts: 32 Thanks: 0 Thanked 0 Times in 0 Posts	Hai Smantha, As I know, Income Tax exemption can be sought only once the construction is complete. You can seek tax benefits only from the financial year in which the construction is complete. There will be no deduction for the year in which the construction is still on as at the end of the year. So for the year ended March 31, 2006, there will be no; tax benefits.