Pre-construction interest deduction: allowed in equal annual instalments and combined with post-construction interest for house property tax. Pre construction period interest, defined from borrowing until earlier of loan repayment or the 31 March before completion/acquisition, is deductible in equal annual instalments beginning in the year of acquisition or construction; total interest deduction combines these instalments with interest attributable to the post construction period.
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Provisions expressly mentioned in the judgment/order text.
Pre-construction interest deduction: allowed in equal annual instalments and combined with post-construction interest for house property tax.
Pre construction period interest, defined from borrowing until earlier of loan repayment or the 31 March before completion/acquisition, is deductible in equal annual instalments beginning in the year of acquisition or construction; total interest deduction combines these instalments with interest attributable to the post construction period.
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