Hello Sreekanth,
I need to understand that whether i can claim my PRE-EMI Home Loan Interest in income tax ?
Details :
- My Home Loan approved in Dec-2012
- I got possesion in July-2016
- I claimed the PRE-EMI interest along with my regular interest for that FY 2016-2017
- In 2017 it has been changed and a cap of 2Lakhs has been implemented.
- Now i am not sure whether my PRE EMI which is for example : 300000, which i was supposed to be get claimed in 5 parts , 60000/year.
2 Answers
Dear Shishir,
Yes, it can be considered as a loss, as you can claim max Rs 2 lakh only.
Kindly read :
https://www.relakhs.com/income-tax-exemptions-fy-2017-18-list/
If she is not an earning individual, suggest you to pay whole EMI from your account and request your Banker to issue loan statement in your name only. You can then claim 100% tax benefit.
Kindly read :
https://www.relakhs.com/joint-home-loan-eligibility-rules-income-tax-benefits/
Thanks Sreekanth for the answer. and for sure it is a huge loss instead 🙁
Hi Sir,
I got home loan changed from base rate to MCLR last year in July .So interest rate changed 9 to 8.65.
It was 8.65 until June 2018 however now its 8.9 which seems pretty much high.
My friends who have same amount of loan from SBI has interest rate 8.45 not sure why.
Is bank charging high rate from me or its system error?
Please suggest what step i should take.
I got home loan changed from base rate to MCLR last year in July .So interest rate changed 9 to 8.65.
It was 8.65 until June 2018 however now its 8.9 which seems pretty much high.
My friends who have same amount of loan from SBI has interest rate 8.45 not sure why.
Is bank charging high rate from me or its system error?
Please suggest what step i should take.
Please login or Register to submit your answer