TDS on Salaries
This query is : Resolved
28 July 2009
There is a query related to exemption eligible u/s 80C :
- During the previous financial year, the assessee transferred his housing loan from one bank to another bank. Old bank has issued a interest certificate mentioning complete repayment of loan (i.e. Principal + Interest). In such a case, can we claim benefit u/s 80C to the extent of Rs.100,000/-. However, Repayment of loan has started in current year in New Bank (i.e. bank to which the Outstanding loan was trfd).
- During the previous financial year, the assessee transferred his housing loan from one bank to another bank. Old bank has issued a interest certificate mentioning complete repayment of loan (i.e. Principal + Interest). In such a case, can we claim benefit u/s 80C to the extent of Rs.100,000/-. However, Repayment of loan has started in current year in New Bank (i.e. bank to which the Outstanding loan was trfd).
28 July 2009
No it is not the repayment. It is just the closure of loan or say transfer of loan.
28 July 2009
Agree with Mr Soni. in case of transfer of loan and no repayment made during the last year, u will not get benefit under sec 80 C
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