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Deduction u/s 80 c & 24

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Querist : Anonymous

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Querist : Anonymous (Querist)
20 May 2013 My client has taken a housing loan. Please tell me the benefits available to him u/s 80 C & 24 on interest & principal both.
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CA Kapil Verma

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CA Kapil Verma (Expert)
20 May 2013 principal amount paid through EMI will get exempted in 80C subject to limited of Rs 1 lac.

and interest paid through EMI get exemption u/s 24 subject to limited of Rs 1.5 lac.

But the house property should not in construction period. it should be complete.

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