Deduction u/s 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2013 dear sir,

i have taken a loan of rs.500000/- Rs. suppose i have paid all the due amount in a current year by different amount of payment then whether that amount is eligible for deduction u/s 80C limit i.e Rs.100000/-

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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02 February 2013 Looking Towards Your Question , You Took Loan Just For Normal Purpose ? Right ?
Not Deductible

Querist : Anonymous

Querist : Anonymous (Querist)

02 February 2013 but how can we decided its a normal use..and if its a paid in 3 years then wht ????it is allowsd or not?

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CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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02 February 2013 If You Have Taken for Housing Construction or House Property, or Educational Loan from Financial Recognised Institute then Only Allowed