Claiming the excess paid loan payments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2013
Dear Expert,
i need help in the following example.
In a F.Y Rs 4 lakh of interest and Rs 7.5 lakh of the principal, is repaid towards Housing loan then i may be able to claim a deduction under section 80C for principal payment of Rs 1 lakh and under section 24 for interest payment of Rs1.5 lakhs .
But can i claim remaining 2.5 lakh interest & 6.5 lakh Principle amount if yes then when & how
pls help me
i need help in the following example.
In a F.Y Rs 4 lakh of interest and Rs 7.5 lakh of the principal, is repaid towards Housing loan then i may be able to claim a deduction under section 80C for principal payment of Rs 1 lakh and under section 24 for interest payment of Rs1.5 lakhs .
But can i claim remaining 2.5 lakh interest & 6.5 lakh Principle amount if yes then when & how
pls help me
12 November 2013
Interest on borrowed capital for acquiring or constructing a property (for current year and preconstruction period) shall be riestricted to Rs.150000/-u/s 24(b)and principal amount upto Rs.100000/- u/s 80C .The provisons of carry forward of Interest payment is available but only under sec 80EE (wef from AY 2014-15).
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