Can any one help me in this query
Will the assessee get benifit of 80C if he repays his loan in full.
3 Replies
Abhijeet Deshpande
(Co-Founder & Manager @ Tax-Yantra)
(1171 Points)
Replied 09 June 2011
SEC 80 C permits the deduction for Loan repayment- Principal Amount only.
So whatever principal amount is repaid can be availed as deduction..
This deduction is subject to Maximum deduction of Rs. 100,000( which includes other deductions covered under this section also)
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 09 June 2011
PRINCIPAL AMOUNT REPAID CAN BE TAKEN AS DEDUCTION
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 09 June 2011
| Originally posted by : Khushal | ||
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Can any one help me in this query Will the assessee get benifit of 80C if he repays his loan in full. |
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80C does not deals with part / full value, if the loan is taken from any approved institution , then he can claim 80C for the principal repayment upto max ceiling of 1 lacs with others.
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