TMI BlogHow to claim for loss of under construction propertyX X X X Extracts X X X X X X X X Extracts X X X X ..... I am a salaried and had booked a under construction Flat in year 2010, on Bank Loan which got canceled in Jan 2014. Please find the details about the losses below Reason of Loss : My under construction Flat was canceled by the builder. Amount of Loss : Approx 4 yrs of EMIs (i.e. Interest + Principal Amount) paid to the Loan provider Bank. Please let me know if you could help me to get proceed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with either of below options a) Refund of Tax paid in last 4 years by resubmitting the previous year ITRs ( I couldn't find where I should mention this loss amount in ITR-1 form ) or b) consideration of loss amount in current year's Tax calculation. ( I couldn't find under which section I can declare these losses as Section 24 and 80C says for possessed house only. ) Are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... there other options to leverage IncomeTax benefit over the incurred losses ? Kindly let me know whether a salaried person could meet with a loss or not ? If yes, I believe that there must be a way out to project such losses as per Guidelines for Income Tax Laws. Please suggest, as its a huge financial loss to me for time, amount, value, price appreciation and emotional also. Thanks ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By MARIAPPAN GOVINDARAJAN - The Reply = Whether you have got clarified in the above issue? If not please inform. - How to claim for loss of under construction property - Query Started By: - Himanshu K Dated:- 9-12-2014 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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