Claiming tax exemption on home loan for buying a plot., Income Tax

[Gangadhar Bodla]

I have taken a home loan to purchase a open plot.I have not yet started construction of the house on this. Can I claim tax exemption for the principal and interest amount I am paying to re-pay the loan.

Posts / Replies

[murthy karumuri]

The interest on Home Loan paid to the bank before the construction completed should be aggregated and shall be claimed the said amount in 5 instalments for five successive years from the year of completion of the construction.

see the below link http://www.charteredclub.com/tax-benefit-on-home-loan/