80c deduction
This query is : Resolved
17 September 2013
Can we take deduction of housing loan principal repayment in case house property is not in possession?
17 September 2013
Deduction on house loan principal repayment is available only if the house is constructed and the possession is taken over. Assessee need to have possession and certificate of ownership to claim tax under section 80C. In other words if the assessee has not received possession of house property, 80C deduction on repayment of housing loan principal component cannot be claimed.
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