I am planning to buy an under-construction property. But I am opting for Down Payment (DP) plan, in which the bank will disburse the loan amount in full and I shall pay the margin amount in full. Full EMI will start from the 1st day. My question is: Do I have to claim interest exemption u/s 24(b) during 5 years from the year of completion of the flat (as is normally the case for under construction property), or (since all payments are made in full) I can claim tax benefit for interest payment upto Rs.1.50 lacs in this Financial year itself?
