Home loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2012
Dear Sir,
Suppose, home loan paid during the fy 2011-12 is Rs. 220000/- ( Rs. 180000/- principal amount + Rs. 40000/- as interest ).
U/s sec. 80c assessee can claim the amount of principal or interest paid and what would be amount of deduction.
Please advise me.
Suppose, home loan paid during the fy 2011-12 is Rs. 220000/- ( Rs. 180000/- principal amount + Rs. 40000/- as interest ).
U/s sec. 80c assessee can claim the amount of principal or interest paid and what would be amount of deduction.
Please advise me.
30 October 2012
U/s 80C maximum upto Rs. 1 lakh allowed as savings for payment of Principle amount.
If your house is self occupied, upto Rs.150000/- can be allowed as deduction U/s 24b. In your case entire Rs.40000/- can be allowed under this section.
If your house is self occupied, upto Rs.150000/- can be allowed as deduction U/s 24b. In your case entire Rs.40000/- can be allowed under this section.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2012
u/s 80C deduction is available for principal or for interest paid?
Please clarify.
Please clarify.
30 October 2012
80C deduction available only for principal payments not interest.
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