Income tax benefits on under construction house?

  1. Can we get income tax benefits on under construction house?
  2. How is it claimed?

Hi Namitha

Exemption cannot be claimed during contruction, for claiming you need to occupy the house. Basically one has to provide possession certificate & completion certificate to get exemption for 1st time.

But after possession pre emi can we claimed in 5 next years but again this cannot exceed max of 2L.

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