Housing loan principal deduction u/s 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 February 2013
dear all,
if i have rental income from my house property and if i am paying interest & principal amount to bank, as i know interest can be claimed but can i take benifit of principal repayment of loan u/s 80c (as the said property is not self occupied)
need support
if i have rental income from my house property and if i am paying interest & principal amount to bank, as i know interest can be claimed but can i take benifit of principal repayment of loan u/s 80c (as the said property is not self occupied)
need support
08 February 2013
Relevant portion of Section 80C is reproduced below -
"(xviii) for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head "Income from house property" (or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head)"
There is no requirement in the act that the property should be self occupied.
"(xviii) for the purposes of purchase or construction of a residential house property the income from which is chargeable to tax under the head "Income from house property" (or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head)"
There is no requirement in the act that the property should be self occupied.
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