Claiming Interest Paid on loan after selling my house

Dear Pankaj,

I have a question for you. I booked a house in 2008 and got possession in 2011. In the three years, I paid around 5 lacs of interest to bank in the years 2008-2009, 2009-2010, 2010-2011 and 2011-2012 as I had taken 12 lacs of loan. Now i got possession of the house in 2011, Dec. If I sell the house in Feb 2012, can I claim this interest paid to bank in 5 equal installments for the period in which I was holding the house.

asked Feb 09 '12 at 14:54 by Gunjan 124

You won't be claim 1/5th interest installment if house is sold. This would only continue till the year in which house is sold or five years are completed.

answered Feb 10 '12 at 19:31 by pankaj 5.2k320


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Asked: Feb 09 '12 at 14:54

Seen: 988 times

Last updated: Feb 10 '12 at 19:31