can any one tell me ,in sec 80 c of the income tax act ,deduction of installment paid on behalf of purchasing a house is available?
subodh sharma (C.A.) (413 Points)
02 April 2009can any one tell me ,in sec 80 c of the income tax act ,deduction of installment paid on behalf of purchasing a house is available?
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 02 April 2009
Dear Subodh
As per section 80C , payment made towards the COST OF PURCHASE/CONSTRUCTION OF NEW RESIDENTIAL HOUSE PROPERTY is allowed .
So deduction of installment paid on behalf of purchasing a house is also available.
SORABH
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 02 April 2009
Sorabh Gupta
(Manager ( Taxation ))
(877 Points)
Replied 02 April 2009
Dear Subodh
Yes , it include bank installment also..........
Brij Bhushan Sangal
(practice)
(363 Points)
Replied 02 April 2009
Dear Subodh,
Deduction U/S 80C is allowabale on repayment of Principale of Housing loan taken from any bank of financial institution who dfeal in housing finance. Repayment of any authority who giveing salf financing for residencial property also covered in it. Expences like stamp duty , registration money for residencial property also covered in priview of Section 80c of Income Tax act.
Richa
(CA Final Student)
(60 Points)
Replied 02 April 2009
M agree with Brij bhushan that deduction of Principal repayment is allowed under 80c and the interest portion u can claim under house property.......
Alia Khetwani
(CA)
(96 Points)
Replied 02 April 2009
yup
deduction to the extent of principal amount in the installment is available u/s 80C.
even registeration charges paid are covered under 80C
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 02 April 2009
Hi Subodh
I think you got the ans of your Question
mukesh jha
( C A)
(43 Points)
Replied 05 April 2009
| Originally posted by :subodh sharma | ||
| " | can any one tell me ,in sec 80 c of the income tax act ,deduction of installment paid on behalf of purchasing a house is available? | " |
mukesh jha
( C A)
(43 Points)
Replied 05 April 2009
first u file a FIR FOR LOST THE PAN CARD.THEN U APPLIED FOR NEW PAN/CHANGE \CORRECTION CARD WITH SAME PAN
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
