Query u/s 80c
$ achin @grawal (ahmedabad) (39 Points)
28 October 2013$ achin @grawal (ahmedabad) (39 Points)
28 October 2013
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 28 October 2013
Yes, the same will be the case of refinancing, so definitely deduction u/s 80C......
@VaibhavJ
(Believe!! Live your dreams!)
(33516 Points)
Replied 28 October 2013
For repayment of HL thru loan porting no deduction u/s 80C is allowed.
Since 80 C requires that amount invested should be from earned Income.
However you can claim exemption from new loan.
Thanks//VaibhavJ
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 28 October 2013
$ achin @grawal
(ahmedabad)
(39 Points)
Replied 28 October 2013
Nikhil Kaushik
(Fellow CA)
(85743 Points)
Replied 28 October 2013
1. If you replace the loan with another loan, You will claim principal repayment deduction against the new loan only.
2. There is a difference between penal interest and normal interest. I don't think you can cover penal interest under 24b.