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        Case ID :
        Income Tax

        Example:- Loan Taken on 01-05-2006 of ₹ 5,00,000. Construction ends on 07-09-2012. Rate of interest is 1%. Calculate interest for pre-acquisition period?

        17 August, 2015

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        Chapter No. 04 - House Property - Deductions - (Sec. 24)

        Pre-Construction/Acquisition Period = 01-05-2006 to 31-03-2012

        Pre-Construction/Acquisition Interest = 3,55,000 (5,00,000*71 Months*1%)

        Pre-Construction/Acquisition Interest Deduction for Financial Year 2012-13 to 2016-17 = 71,000 (3,55,000/5 )

        Interest from 01-04-2012 to 31-03-2013 shall be allowed as deduction in current Financial Year. (Interest from 01-04-2012 to 07-09-2012 shall not be considered as Pre Acquisition/Construction Period.

        Pre-construction interest deduction allows spreading pre-acquisition interest across subsequent assessment years, with current-year interest treated separately. Pre-construction interest under Sec. 24 is computed for the period from loan drawal to the day before completion; the total pre-construction interest (here computed as principal x months x rate) is capitalised and apportioned equally across the prescribed subsequent assessment years as the annual deduction. Interest accruing in the fiscal year of completion is allowed in that year and amounts accruing between the fiscal year start and actual completion date are excluded from the pre-construction spread.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Pre-construction interest deduction allows spreading pre-acquisition interest across subsequent assessment years, with current-year interest treated separately.

                              Pre-construction interest under Sec. 24 is computed for the period from loan drawal to the day before completion; the total pre-construction interest (here computed as principal x months x rate) is capitalised and apportioned equally across the prescribed subsequent assessment years as the annual deduction. Interest accruing in the fiscal year of completion is allowed in that year and amounts accruing between the fiscal year start and actual completion date are excluded from the pre-construction spread.


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