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Home > Forum > Ahmedabad > Home Loan > Any tax benefits for EMI on under construction property?

Any tax benefits for EMI on under construction property?

Q: I have recently bought a flat which is under construction. I have taken home loan also for that property. Is it possible for any tax exemption on the EMIs which I will pay?

tax benefits on emi
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Replies (1)
1
Hi Kamal,
Yes, you can avail tax benefit on the principal component of the EMI till you possess the property. After the possession of the property you can avail for complete tax benefit on the amount (principal & interest).Principal component is limited to Rs 1 lakh and interest component is limited to Rs 1.5 lakhs for financial year 2011-12.
Suresh Khanna


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