CHEQUE BOOK

HT Estates - - HTESTATES - Harsh Roongta

I took a home loan to pur­chase a prop­erty in Fe­bru­ary 2013. The con­struc­tion is con­tin­u­ing, as are my EMIs. It is ex­pected that con­struc­tion will be over in May 2016. For the last two years, I have re­ceived a re­bate only for the prin­ci­pal amount and not the in­ter­est. I want to know when I will get re­bate on the in­ter­est paid dur­ing 2014-15 and 2015-16. What is the proce- dure/rule please ad­vise?

- Manik Ti­wari I am as­sum­ing from your query that the prop­erty is still un­der con­struc­tion and is likely to get ready this year. No de­duc­tion is avail­able in re­spect of in­ter­est paid for any pe­riod un­less the con­struc­tion of the prop­erty is com­pleted.

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