I had taken a home loan in Jul 14. Took possession in Mar 16. Since the loan was partially disbursed I was paying the Pre-EMI’s till Feb 16. EMIs started from March 16.
- YEAR PEMI INTEREST Principal
- FY 14-15 60000 0
- FY 15-16 150000 0
- FY 16-17 160000 50000 10000
So for claiming the Sec 24 benefit, which calculation is correct.
CASE 1: PEMI for (FY 14-15 + FY 15-16)/5 + PEMI for FY 16-17 + INTEREST for FY 16-17 provided the upper limit of 2 Lakhs
CASE 2: PEMI for (FY 14-15 + FY 15-16+ FY 16-17)/5 + INTEREST for FY 16-17 provided the upper limit of 2 Lakhs
Can someone please help.