I taken home loan of Rs. 10 lakhs (in instilments during 2003-2005 as per the demand from CGHS) from Canara bank in 2003 for five years and started to repay the EMI from very next month in July 2003 . The whole balance loan was paid at the time of my retirement in June 2006. However due to none of our fault and even of the society the house was not allotted for the want of clearance from Registrar though apartments were ready to move in . Finally last month in October draw was held by DDA and we may get the possession of flat in this financial year. Can I get the tax deductions in equal installments on the tax paid on the loan and principal in next few years? I read somewhere that I can divide this into five installment and claim the deduction after getting the possession of the flat. I shall appreciate for your advise.
