Rebate u/s 80c
This query is : Resolved
21 February 2013
A person purchase an old residential house from his own fund. Can he get Rebate U/S. 80 C towards payment for purchase of resident house?
If he will take loan from any person (other than bank or housing finance or other financial institute) can he get rebate U/S. 80 C towards payment for purchase of resident house?
Please give case reference if any
If he will take loan from any person (other than bank or housing finance or other financial institute) can he get rebate U/S. 80 C towards payment for purchase of resident house?
Please give case reference if any
21 February 2013
1st case : An assessee is not be able to claim any deduction if he bought a new house from his own fund.
21 February 2013
for 1st part agree with Mr. Mohit
but in second case it is wrong. you can't claim 80C if you take loan from a individual.
only following loans are permissiable:
Loan from
central Govt or State Govt
Bank including co-operative banks
LIC
National housing bank
Public company
assessee employer but employer must be public company
but in second case it is wrong. you can't claim 80C if you take loan from a individual.
only following loans are permissiable:
Loan from
central Govt or State Govt
Bank including co-operative banks
LIC
National housing bank
Public company
assessee employer but employer must be public company
21 February 2013
agree with Mr Prashant Gupta
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