09 March 2016
a person pays housing loan instalment of Rs. 25000 per month i.e. Rs. 300000/- during the f. y. 2015-16 interest portion is Rs. 230000/- principal portion is Rs. 70000/-
House is not completed during the f.y. 2015-16
Can he get deduction for principal portion u/s 80 C
09 March 2016
Tax deduction u/s 80C not eligible for principal portion under construction. Relevant clause u/s 80C (2) (xviii) for purpose of purchase or construction of residential house property income from which chargeable to tax under the head income from house property.
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