03 April 2012
I have taken ho,me loan from Co Op Credit Society of Rs.12 Lacs. Will i get any deduction under I Tax Act from this Home loan & its Interest? Pl Advice. Thanks
03 April 2012
Agree with Mr. Siddhartha. But the total home loan amount will not be given as deduction. The amount which is paid only will be allowed as deduction subjected to a max cap of Rs. 100,000 (assuming no other deductions claimed under 80C).