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HOUSE LOAN

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14 May 2011 what Income Tax Act says about payment of Principal Amount and Interest amount on House Loan.

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CA. Aryendra

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CA. Aryendra (Expert)
14 May 2011 I think u talking about deduction:

1. Principal Repayment will claimed u/s 80 C
deduction will not be for those expenditure of which deduction allowable u/s 24

2. Payment of Interest portion will be claimed under Head of Income of House Property.

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