Principal Amount deduction under 80C for repairs of house

This query is : Resolved

shamkant (Querist)
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24 January 2011 Pls let me know whether principal amount for loan taken for repairs of house is allowable under section 80C of income tax act & also the interest amount pls guide

CMA. Dinesh S Adhikari, ACMA

CMA. Dinesh S Adhikari, ACMA (Expert)
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24 January 2011 Installment paid is allowed only for construction or purchase but not for reapirs u/s 80C.

However, insterest is allowed but subject to conditions specified u/s 24B.

Regards!!!

Guest

Guest (Expert)

24 January 2011 I agree with Mr. Adhikari. Intt. will be allowed u/s 24(b)

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