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Loan from credit society

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 October 2014 SIR
WE ARE THE TEACHERS IN AIDED SCHOOL AND HAVING OUR OWN CREDIT SOCIETY , FROM WHICH WE TOOK LOAN OF RS. 10 00 000/- FOR HOUSING PURPOSE . THEY GIVE US THE CERTIFICATE STATING 'LOAN FOR HOUSING PURPOSE ' IS IT INTEREST ON THIS LOAN IS EXEMPTED FROM INCOME TAX ?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
28 October 2014 you can claim deduction for the interest paid under section 24 of the Income-tax act...
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
16 December 2014 when u pay the principle amount u can get 80C deduction..............
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