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Deduction u/s80c

vijay singh (CA FINAL STUDENT) (53 Points)

02 August 2016

IF HOUSE LOAN TAKEN ON BASIS OF AGREEMENT FOR PURCHASE OF PROPERY... IN THAT CASE ASSESSEE WILL BE ELIGIBLE FOR 80C REPAYMENT AND EXEMPTION OF HOME LOAN INTEREST OR NOT.

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Dinesh Mertiya (PROFESSIONAL) (761 Points)
Replied 02 August 2016

Yes,

I think, you are eligible for deduction

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vijay singh (CA FINAL STUDENT) (53 Points)
Replied 02 August 2016

THX SIR, BUT IS IT CONFIRM TO AVAIL DUDCTUION.......

Dinesh Mertiya (PROFESSIONAL) (761 Points)
Replied 02 August 2016

" IF HOUSE LOAN TAKEN ON BASIS OF AGREEMENT FOR PURCHASE OF PROPERTY..."

Housing loan has been taken for purchasing a new house, you are eligible to take deduction under section 80C and 24(b)

Loan should be taken within definition of housing loan. It may be taken for purchasing or construction of housing property , not for personal purpose (personal loan)

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