shrinivas2004@gmail.com (Teacher) (21 Points)
31 January 2017
Saikrishnan S
(Chartered accountant - Plintron)
(186 Points)
Replied 13 February 2017
Interest repayment shall be claimed as a deduction under section 24 of Income tax act under Income from house property. However, the limit is Rs. 30,000/- Per annum i.e you can claim deduction of Rs. 30,000 for 1 financial year starting from April - March.
With respect to Prinicipal payment, as per my knowledge you cannot claim any deductions on the repayment.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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