Sir,
I am a PSU employee and I have taken House Building loan From SBI during the month of March2013. The Bank is charging interest on monthly basis.The house is under construction Can I get rebate on interest paid by me during 213-14?

Ramesh Chauhan

Ramesh,

If you are asking can you deduct interest paid on the construction loan in India on your U.S. federal tax return, the answer is YES if the house will be your primary or second home.

If you are asking about your Indian tax return, this forum does not address Indian taxes.