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Deduction U/S 80C

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57 Points Posted on 05 October 2018
if an assessee taken HBL and repay installment out of that interest is adjusted with HP income and Principal amount is eligible for Deduction.. but my question is that how many year he can claim 80c deduction ? if the loan is continuing for 3 years
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On 05 October 2018 at 08:35 Report
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Chartered Accountant
1272 Points Posted on 05 October 2018
There is no restriction on number of years for interest deduction except pre construction interest.

Interest can be allowed u/s 24 and 80C based on the interest certificate given by the bank on yearly basis.

Interest under 24 and Principal repayment under 80C respectively
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On 05 October 2018 at 11:00
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practitioner
553 Points Posted on 05 October 2018

U can claim deduction till the loan is completely repaid.

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On 05 October 2018 at 11:04
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19 Points Posted on 06 October 2018
only 3 years from when repayment of loan is start
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On 06 October 2018 at 22:55


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