Earlier

Acquisition/Construction should be completed within 3 years from end of Financial year where loan was taken

Now

Acquisition/Construction should be completed within 5 years of loan from end of Financial year where loan was taken

Suppose Loan was taken on 10 Jan 2010,

End of FY is 31 March 2010

Acquisition/Construction must be completed by 31 March 2015

Learn More

  1. Income Tax
  2. Amendments Income Tax for May 2017 Exams
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Davneet Singh
Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 8 years. He provides courses for Maths and Science at Teachoo. You can check his NCERT Solutions from Class 6 to 12.