DEDUCTION OF PRINCIPAL AMOUNT OF FLAT PURCHASED U/S 80 C
This query is : Resolved
16 August 2008
I HAVE PURCHASED A FLAT FROM A BUILDER AND I AM PAYING ONLY PRINCIPAL AMOUNT IN INSTALMENT (WITHOUT INTEREST)TO MY BUILDER.
NOW THE QUESTION IS --- WHETHER AMOUNT (INSTALMENT) PAID TO BUILDER IS ELIGIBLE FOR DEDUCTIION U/S 80 C OF INCOME TAX ACT?
NOW THE QUESTION IS --- WHETHER AMOUNT (INSTALMENT) PAID TO BUILDER IS ELIGIBLE FOR DEDUCTIION U/S 80 C OF INCOME TAX ACT?
16 August 2008
loans are taken from any bank or financial institutions are allowed principal amount if your builder give finance to you for construction of house is not allowed US 80C
17 August 2008
Not allowed rason expain above
07 November 2021
As it is not considered as home loan. It is just installments paid.
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