New Delhi, Oct. 6 -- If you have bought an under-construction home and have already started paying EMIs, do not assume you can immediately claim all available home loan tax benefits. The tax treatment varies depending on whether the deduction relates to principal payments or interest payments.

While loan repayments may begin before possession of the property, eligibility for tax deductions is subject to specific conditions under the Income-tax Act. Understanding these rules can help taxpayers avoid incorrect claims.

Nishant Shanker, Tax Controversy & Dispute Resolution, Navraj Global Advisors, said, "Buying an under-construction home means commencing EMIs before getting the home possession. Under the Income-tax Act, 2025, the answer dep...