14 December 2011
I have taken Loan for Purchase of House for residence purpose from our emplyee credit society. Can I take Income tax benefit u/s 80C against such Loan repayment ?
14 December 2011
No. # Loan should be taken from Specified institutions/deptt only given below
1. Central or State Government 2. any Bank including co-operative bank 3. LIC or National Housing Bank 4. public company formed and registered in India or co-operative society with main object to provide long term finance for construction purchase of houses in India. 5. Assessee Employer if public company or public sector company or university established by law or a college affiliated to such university or local authority or co-operative society.
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