HULASH KUMAR CHOUHAN (Student) (156 Points)
02 February 2011Hi Friends...
A man had buyed a flat on 04-04-2008 for Rs. 9,63,000. for buying this flat he had taken a loan for Rs. 7,65,00/-.and sold the same flat on 07-01-2010 for Rs. 9,25,000. He also repaid the whole loan amount.
so can he claim the Housing Principal U/s 80C or not and also interest amount U/s 24B.
Please reply as soon as possible...
Thanx..
Pankaj Arora
(Learner)
(3134 Points)
Replied 02 February 2011
He can claim Principal amount and interest u/s 80C Or U/s 24B till the property was in assess name.
CA Anshu Agarwal
(B€ @LW@¥$ ]-[@Pp¥)
(1832 Points)
Replied 02 February 2011
agree with pankaj,
i say only.........that such deduction u/s 80C is available only for residential house property.
CAclubindia
