Chapter VI A deductions

rajini anil (71 Points)

21 August 2018

Dear friends

Is repayment of personal loan taken for construction of house is deductible?

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8 Replies

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 21 August 2018

Yes principal amount is allowed as deduction to person making repayment of loan u/s 80C

1 Like

Sarath Rajendran (Nil) (2791 Points)
Replied 21 August 2018

You can deduct only the Housing Loan principal payment as per 80 C upto 1,50,000/-

CA Bhavik Soni (867 Points)
Replied 21 August 2018

yess deductible u/s 80C

Ashwin Kumar (168 Points)
Replied 21 August 2018

upon ₹ 150000 in 80c and interest on that loan upto ₹200000 in 24b

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 August 2018

Yes... You can claim.
But, Better to Keep proof for using personal Loan into Construction of the House...

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(Guest)

Yeah you can claim

manoj (student) (5205 Points)
Replied 22 August 2018

NO AS LOAN IS TAKEN FOR REASON PERSONAL NOT HOUSING SO YOU CANT GET INTEREST CERTIFICATE AND WILL NOT GET ANY DEDUCTION

subhagan sreerangam (7054 Points)
Replied 23 September 2018

good and nice clarification like it

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