DEDUCTION OF PRINCIPAL AMOUNT OF FLAT PURCHASED U/S 80 C
This query is : Resolved
16 August 2008
I HAVE PURCHASED A FLAT FROM A BUILDER AND I AM PAYING ONLY PRINCIPAL AMOUNT IN INSTALMENT (WITHOUT INTEREST)TO MY BUILDER.
NOW THE QUESTION IS --- WHETHER AMOUNT (INSTALMENT) PAID TO BUILDER IS ELIGIBLE FOR DEDUCTIION U/S 80 C OF INCOME TAX ACT?
NOW THE QUESTION IS --- WHETHER AMOUNT (INSTALMENT) PAID TO BUILDER IS ELIGIBLE FOR DEDUCTIION U/S 80 C OF INCOME TAX ACT?
16 August 2008
loans are taken from any bank or financial institutions are allowed principal amount if your builder give finance to you for construction of house is not allowed US 80C
17 August 2008
Not allowed rason expain above
07 November 2021
As it is not considered as home loan. It is just installments paid.
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
- ITC available on QIP Expenses
- AS-16 Treatment of Borrowing cost for land and building
- HSN Wise Summary Reporting in GSTR-1
- TDS on Payment to Non-Resident by Resident Foreign Entity
- HOW TO CALCULATE FOOD CHARGES
- Demand due to error in 3cd
- Travel Agent Charges 5 GST without ITC. Can he raise invoice18 on Service Fee for Flight Tick
- Income tax planning
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Printing Press under Composition Scheme
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through Chat GPT
CA Deepak Gupta26 April 2025
CAclubindia
