umesh (service) (34 Points)
17 November 2008Hi!
I have a self-occupied flat since last three years. My housing loan was from ICICI bank. I withdrew Rs. 1.50 lakh from my EPF account for repayment of housing loan and repaid Rs. 1.75 lakh. Balance loan amount got tranferred to Indian Bank.
My question is wether i will be able to claim tax rebate on the entire amount of repayment of housing loan of Rs. 1.75 lakh or otherwise. Please guide.
CA Abhash Mishra
(Chartered Accountants)
(598 Points)
Replied 17 November 2008
Yes u can calaim till Rs. 150000/-
Thanks
madhur gupta
(student/article )
(1022 Points)
Replied 17 November 2008
principal payment -deduction u/s 80c max upto rs.100000
interest payment under houseproperty
self occupied house --- rental income nil
deduct dedeuction u/s 24 interest on loan
saleemoddin
(php developer)
(66 Points)
Replied 12 June 2009
You will get more information on tuition fees, educational loans,etc.
at https://www.payit.in. You can calculate your income tax at https://www.payit.in
CAclubindia
