80c

This query is : Resolved

rishabh (Querist)
Follow

04 February 2015 experts, whether 80c deduction can be claimed against principal payment of house loan for commercial purpose...??

Vinayak

Vinayak (Expert)
Follow

04 February 2015 Hi,

80 C states repayment of loan for residential house property is allowed if income such property is chargeable under income from house property ( or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head).

So if the income from property you have stated falls under any head other than Income from House Property then deduction for repayment of housing loan will not be available.