23 December 2011
During the year 10-11 my client has foreclosed the Home Loan Account, the EMI principal repayment is Rs 35000/- and closed the remaining principal amount Rs. 125000/- Can he cliam Rs 1.00 lakh as Principal repayment u/s 80-C.
23 December 2011
Actual Payment towards principal repayment will be allowed as deduction irrespective of EMI. Therefore you can claim Rs 1 lac as deduction u/s 80C.
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