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Old 9th June 2011, 10:24 AM
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Originally Posted by rextor View Post
How does housing loan principal/interest play a part? I know that the home loan matters, but am not sure if its the principal, or the interest. Additionally, how does the calculation differ if the property is "Under Construction" & Stamp Duty / Registration aren't paid yet (though the loan is disbursed & EMIs started)?

You cannot claim the tax deductions for the principal amount for under-construction house. You need to have possession and certificate of ownership to claim tax under 80C. However Interest part is little different. You can not claim the interest amount, unless you get the possession of house . However you can always claim the deductions later in 5 equal installments for next 5 yrs from the end of financial year of possession.

Source::4 things about Home Loan you might not Know
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