Deduction on housing loan
This query is : Resolved
26 February 2013
hi sir
one of my assesee taken housing loan from various source other than bank is any deduction for that loan ?
Plz help me?
one of my assesee taken housing loan from various source other than bank is any deduction for that loan ?
Plz help me?
26 February 2013
(1) only interest is deductible u/s 24(b).
(2) No deduction of principle repayment is made u/s. 80(c)
(2) No deduction of principle repayment is made u/s. 80(c)
26 February 2013
He has to take confirmation of int paid so that there will not be any hassle if any notice is received..
26 February 2013
for 80C loand can be taken other than bank
but from below:
central govt or state govt
LIC
public company
employer but employer must be board or co, established under Central or state act
otherwise 80C will not be available
but from below:
central govt or state govt
LIC
public company
employer but employer must be board or co, established under Central or state act
otherwise 80C will not be available
26 February 2013
interest u/s 24(b) will be available
but need to give proof which is jsutified and valid according to ITO
but need to give proof which is jsutified and valid according to ITO
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