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Mihir

Mihir Tanna  |1030 Answers  |Ask -

Tax Expert - Answered on Feb 17, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Vishal Question by Vishal on Feb 06, 2024Hindi
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Hi I took a home loan in 2013 and paid back the same before getting possession. During the period I paid around 270,000 inr as interest and zero principle. The loan was settled in 2015 and I travelled abroad for job. Now I returned to India in June 2023. Can I claim benefit in income tax for interest paid on loan during Pre EMI period after 8 years? As I was NRI I didn't claim any benefit in income tax.

Ans: No,

Pre construction interest deduction can be claimed in 5 equal installment immediately after construction is completed.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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