Increase in Time limit for Higher Deduction of 2 LACS House Property

Last updated at Dec. 16, 2024 by

Earlier

Acquisition/Construction should be completed within 3 years from end of Financial year where loan was taken

Now

Acquisition/Construction should be completed within 5 years of loan from end of Financial year where loan was taken

Suppose Loan was taken on 10 Jan 2010,

End of FY is 31 March 2010

Acquisition/Construction must be completed by 31 March 2015

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.