About deduction in house property

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Abhinav Shah (Querist)
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07 September 2011 Dear Sir,

Here is a question for which I want to know whether assessee can claim deduction under the head House Property and deduction u/s 80c or not.

A salaried person had repaired his house in August 2010 and for that he had taken loan on 10,000 and in March 2011 he repaid the Rs. 11,000 with interest. Can he claim deduction u/s 80C for Rs. 10,000 and interest of Rs. 1,000 in the return filed by him for the Asst. yr. 2011-12?

Paresh Agrawal

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 September 2011 i) Interest Rs. 1,000/- can be claimed under section 24(b) of the Income tax Act,1961 in the asst year 2011-12.
ii) Principal repaid Rs.10,000/- can't be claimed under section 80C(2)(xviii) of the above said act,since that section is for purchase or construction and not for repairs of house property.

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