Is Housing Loan Repayment for Let Out House Property is deductible under section 80C? plz reply.. its urgent.....
Dharmendra kumar (CA) (201 Points)
22 January 2010Is Housing Loan Repayment for Let Out House Property is deductible under section 80C? plz reply.. its urgent.....
Mahavir
(Student)
(161 Points)
Replied 22 January 2010
Yes it is deductible...subject to overall limit of Rs.1 Lac under Sec 80C...
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 22 January 2010
Mr.Dharmendra Kumar
Section 80C(2)(xviii) is very clear. Pleasse go through the section. You can claim the repayments made towards housing loan obtained for construction/purchase of a house. The said house may be self occupied or may be let out.
Best Wishes
Sathikonda
Max Payne
(employed)
(2569 Points)
Replied 22 January 2010
| Originally posted by : Dharmendra kumar | ||
 |
Is Housing Loan Repayment for Let Out House Property is deductible under section 80C? plz reply.. its urgent..... |  |
only the principal is covered by 80C.. interest is covered by 24(b)
Anumanchipalli Sathikonda
(Tax Consultant)
(1559 Points)
Replied 22 January 2010
Mr.G.K.
You are correct. Mr.Dharmendra kumar is talking about repayment of principal only.
Best Wishes
Sathikonda
C.Balaji
(Learner)
(1867 Points)
Replied 22 January 2010
agree with G.K.
Principal is covered u/s 80c and Interest u/s 24b
S.P.Mahanta
(Internal Auditor)
(647 Points)
Replied 22 January 2010
U/S 80C, any payment made to Bank/ financial institution on loan towards cost of purchase/construction of residential property is eligible as qualifying amount subject to max: limit of Rs.1,00,000/-. The interest component qualifies for deduction U/S 24b up to Rs.1,50,000/- subject to purchase/construction after 1999.
Yash Sharma
(CA - FINAL)
(138 Points)
Replied 22 January 2010
deduction upto total of Rs. 1 lahk for principal u/s 80c , rebate for interest u/s 24 upto Rs. 150000 ,
no rebate for any fine charged by bank or any interest charged over any unpaid fine
Pragya Jha
(Learner)
(40 Points)
Replied 23 January 2010
| Originally posted by : Mahavir Bagri | ||
|
Yes it is deductible...subject to overall limit of Rs.1 Lac under Sec 80C... | |
Dats a right answer...
manish
(Article Assitant)
(358 Points)
Replied 23 January 2010
Simple and clear answer is, Yes u can take deduction for the repayment of housing loan u/s 80C.
PRAVEEN KUMAR
(MBA (Finance) B.Com.(P))
(3443 Points)
Replied 23 January 2010
Yes, that is right
| Originally posted by : Pragya Jha...waitin 4 reslts | ||
|
Originally posted by : Mahavir Bagri Yes it is deductible...subject to overall limit of Rs.1 Lac under Sec 80C... Dats a right answer... |
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GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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