Dear Pankaj, I am owning 2BHK in which i am living. I am aware that before possession interest should be claimed in five equal part for five year after taking possession. Amount of interest paid and claimed is as given below.
Since interest paid by me since year 2011-14 was above 1.5 Lakhs, hence i could not claim the before possession interest since last three year. Now Limit is 2 lakhs and my interest paid during this financial year is 125000 only. in this scenario can i claim before possession interest for next two year?? If yes the how much?? Is it (20000 + 110000)/5 = 26000 + (this year interest 125000) ??? Or is it (20000 + 110000)/2 = 65000 + (this year interest 125000) where 2 is the number of year left??? Regards Jeevan asked Jul 09 '15 at 20:01 by g1_patil 1●1●2●3 |
You would only be able to claim max one fifth of interest paid before possession year, in a financial year. So in your case it would be 26,000 + 1,25,000. answered Jul 21 '15 at 18:47 by Pankaj Batra 5.2k●3●20 |