House Loan Repayment

BINU.M.S (MCOM MBA ICWAI-Inter(Studying)) (197 Points)

30 July 2008

Dear All

Can any one tell me House Loan Repayment comes under which section

for an individual assesee.

Thanks in Advance

BINUMS

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5 Replies

CA.Nikhil Gupta (PRACTICE) (768 Points)
Replied 30 July 2008

interest repayment on borrowed capital under section 24b and principal repayment under section 80c

Vidya (Student) (789 Points)
Replied 30 July 2008

Principal repayment can be claimed under section 80C and interest paid on housing loan can be claimed under section 24 of the IT Act.

CA Nitin Wadhwani (Chartered Accountant) (4469 Points)
Replied 30 July 2008

interest repayment on borrowed capital under section 24b and principal repayment under section 80c

Rushikesh (Chartered Accountant - Manager Finance) (2375 Points)
Replied 30 July 2008

Interest repayment for loan taken after 1st April 1999, upto Rs. 1.5 lakhs under section 24

And, loan prior to that Rs.30K

Housing Loan repayment upto Rs. 1lakhs under section 80C

BINU.M.S (MCOM MBA ICWAI-Inter(Studying)) (197 Points)
Replied 30 July 2008

Dear All

Thanks for the reply.........

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