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8 months ago

tax relief for interest on home loan (Hi sir, I have query regarding Home loan interest. I am a bank employe and took a housing loan under staff category for plot + construction in jan2017. The EMI start from jul 2018 and complition certificate given on Feb 2019. Under staff housing loan scheme first the principal repayment start and after that interest amount will be repaid after entire Principal amount recovered. So my question is that, 1. Can I claim interest amount which is not actually paid but charged on accrual basis every year under section 24? 2. Can I also claim prior period interest (interest charged from the date of loan availed till completion of house) which is not actually paid by me but arrived on accrual basis in 5 equal installment, if yes then under which section? Thanks and regards Sarang Suryawanshi.)

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