Rebate u/s 80C towards repayment of Housing Loan
This query is : Resolved
22 April 2009
Sir,
Can a Employee get rebate u/s 80C on repayment of housing loan and Interest on housing loan from his/ her employer ? Please also confirm that if the housing loan is on joint names ie. husband & wife. But only wife is paying installment of housing loan. Can employer give 100 % rebate on repayment of housing loan (on Payment basis) & 50% on Interest.
Regards
Can a Employee get rebate u/s 80C on repayment of housing loan and Interest on housing loan from his/ her employer ? Please also confirm that if the housing loan is on joint names ie. husband & wife. But only wife is paying installment of housing loan. Can employer give 100 % rebate on repayment of housing loan (on Payment basis) & 50% on Interest.
Regards
22 April 2009
employer can get benefit of repayment of loan u/s 80C.
23 April 2009
U can get benefit of refund of both loan & intt from your employer by submitting him details & certificate from the lender.
If loan is in the name of both: 80C deduction for repayment of loan is on payment basis, i.e., who pays out of his taxable income is eligible for deduction.
whereas intt u/s 24(1) is on accrual basis & u both can claim (if one self occupied house)maximum Rs.150000 deduction each
If loan is in the name of both: 80C deduction for repayment of loan is on payment basis, i.e., who pays out of his taxable income is eligible for deduction.
whereas intt u/s 24(1) is on accrual basis & u both can claim (if one self occupied house)maximum Rs.150000 deduction each
24 April 2009
Pujah
Thanks for your Reply
Thanks for your Reply
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
