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How can I claim TDS benefit as salaried person- Property Hotline
Posted
July 28, 2016
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101
July 28, 2016
101
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3:38Now PlayingExpert: Harsh Roongta, Chartered Accountant and a SEBI registered Investment Advisor.
Question: I invested in Lodha's under-construction property in Thane on July 2013. I took a loan of Rs40 lakhs from HDFC and the disbursement started from Dec 2015. The possession is expected by Dec 2017. How and when can I claim the TDS benefit as a salaried person? Do I get TDS benefit only after possession?
Answer: No tax benefits are available on home loan repayments made during years in which the property is still under construction. In your case you will be able to claim deduction on entire interest payable till March 31, 2018 plus 1/5th of the interest payable till March 31, 2017 during the financial year 2017-18. Any principal repayment made till March 31, 2017 is lost forever and no benefit is available in respect of that repayment.
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