Pradeep (Student) (150 Points)
25 June 2012Dear Experts & Friends
The repayment of Principal Portion on Housing Loan is eligeble for deduction U/S 80c, If yes upto how many years the same is eligeble for deduction & the maximum limit available for deduction?
Kindly reply for the above with an example
Thank you all in advance
CA Swapnil Arora
(Chartered Accountant)
(80 Points)
Replied 25 June 2012
No time limit is there I believe but as it falls under section 80C, Rs 100000 is the maximum limit along with other deductions p.a...
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 25 June 2012
| Originally posted by : Swapnil Arora | ||
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No time limit is there I believe but as it falls under section 80C, Rs 100000 is the maximum limit along with other deductions p.a... |
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C.A. Sandeep Wawhal
(CA, PGDFM, BCom)
(1829 Points)
Replied 25 June 2012
Maximum deduction available u/s 80C is Rs 1,00,000/- and deduction is available in financial year in which payment is made.
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 26 June 2012
No time limit is there I believe but as it falls under section 80C, Rs 100000 is the maximum limit along with other deductions p.a...
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