Exemption u/s 80c
This query is : Resolved
22 February 2016
Dear Sir,
My investment in lic is Rs. 20,000/- per year and repayment of housing loan in the year is Rs. 2,24,000/- can I avail exemption under section 80C for whole amount (I.e. Rs 150000/-)
22 February 2016
You can avail exemption for Rs. 1,50,000.
22 February 2016
Only the principal portion of the Housing Loan repayment will qualify under section 80C. Interest portion can be claimed under section 24.
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