Question

How to pay interest on loan in construction of apartment?

Answer 1

Answer:

In an under-construction property, a bank disburses the loan ... However, you may be expected to pay the EMI on the sanctioned loan amount ... Top 10 banks' home loan interest rates.

Answer 2

Actual principal repaid subject to a maximum of Rs. 1,50,000 (Rs. 2 lakh for senior citizens) can be claimed as investment eligible for tax deduction under section 80C. Additional deduction of Rs. 1.5 lakhs for interest on home loan availed for purchase of Affordable houses of up to Rs. 40 lakh till March 2020