Sec 8C Deduction on Housing loan repayment
Benny Thadathil (CDM) (317 Points)
28 January 2010Benny Thadathil (CDM) (317 Points)
28 January 2010
Vivek
(Finally passed CA Final...!!!!!)
(1097 Points)
Replied 28 January 2010
Yes... For claiming deduction, the construction must be complete....
Max Payne
(employed)
(2574 Points)
Replied 28 January 2010
Dear Benny, it is not necessary to claim 80C deduction for principal or 24(b) for interest whether the house is occupied.
To claim 80C, the only condition is that the construction of the house should be completed before u claim the principal repaid as deduction.
To claim interest the house can be vacant, self occupied or let out. But the amount allowed as deduction is different in each situation.