28 July 2011
The purpose of loan must be construction of residential house property for getting deduction U/s 80C.
Pl refer Section 80C(2)(xviii).
However, you can take deduction in respect of Section 24 as in this section the word "residential" has not been used. It is intended for all kinds of properties, except the commercial property which is used for own business purpose.
CAclubindia
