Under Indian Income Tax Act, in order to claim deduction of interest on home loan for house property, which of the following things need to taken care of?

A. The home loan must be used for the purchase/construction of the house property.

B. The load must be taken on or after 1st April 2019.

C. The amount of loan must be used within 10 days from the date of loan taken.

D. The purchase or construction must be completed within 5 years from the end of Financial Year in which the loan was taken.

E. The rate of interest on loan cannot exceed 22%.

Choose the most appropriate answer from the options given below:

Correct option is D

Under the Indian Income Tax Act, to claim a deduction of interest on home loan for a house property, the following need to be taken care of: 1. The home loan must be used for the purchase/construction of the house property. 2. There is no requirement for the loan to be taken on or after any specific date. 3. There is no requirement for the amount of loan to be used within any specific timeframe. 4. The purchase or construction must be completed within 5 years from the end of the Financial Year in which the loan was taken. 5. There is no restriction on the maximum rate of interest on the loan. Thus, the correct option will be (a) and (d)