Income tax benefits on under construction house?

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