Home Loan EmI
This query is : Resolved
10 February 2021
Res, sir , can I avail deduction in IT return of 80C Principal and interest of home loan.
My EMI is Rs. 11580 which is Principal is Rs.1580 and Interest Is Rs. 10000,
So, I can take deduction of both Principal Amount and Interest amount under 80c and 24B, for 12 months.
Thanks Sir,
My EMI is Rs. 11580 which is Principal is Rs.1580 and Interest Is Rs. 10000,
So, I can take deduction of both Principal Amount and Interest amount under 80c and 24B, for 12 months.
Thanks Sir,
10 February 2021
Your EMI consists of two portions, principal & Interest.
Get a statement from the concerned bank/ loan agency.
It will show the exact break-up of your payments made during the year.
Re-payment of principal of Housing loan is deductible under 80C.
Payment of interest is claimable as deduction while calculating House Property Income.
Get a statement from the concerned bank/ loan agency.
It will show the exact break-up of your payments made during the year.
Re-payment of principal of Housing loan is deductible under 80C.
Payment of interest is claimable as deduction while calculating House Property Income.
10 February 2021
Thank you Mam, just now i can taken deduction only Repayment Principal Amount for the year,
10 February 2021
You can revise your return to take both the deductions
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