29 June 2011
As i know principal amount of loan repaid can be claimed as deduction under 80C and pre construction period interest is claimed after construction or acquisition i.e. after calculating "Income from H P"
but my query is that if loan is taken and principal(Loan) amount is paid but house property is yet to be constructed.. or yet not acquired So there is no "Income from House Property"
my question is that can i claim the principal amount under 80C please.. tell me.
01 July 2011
Can i claim repayment of loan (Housing)as deduction u/s 80C while calculating Total taxable income even my H P is still to be constructed????? e.g Loan Repayment 50000/- (principal) Loan Interest 10000/-
There is no Income from house property as it is yet to be completely constructed
So i cant claim interst of Rs 10000
but can i claim the amount of 50000 ( repayment of Loan under 80c
CAclubindia
