Deduction u/s 80c

This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
28 June 2013 One of my client has booked a flat and housing loan is approved by bank, and bank pays installment to the builder, the possession of flat will be next year. The repayment of housing loan is done by client, whether the principle portion is eligible for deduction in 80C as the interest will be deducted in 5 years when the flat is ready.
I just want to know whether he is eligible for 80 C deduction now or not?

28 June 2013 Yes. you can claim 80C. since there is no restricted provision in the section for completion of construction

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
29 June 2013 CAN U PROVIDE ME WITH CASE LAWS OR SOME SUPPORTINGS

30 June 2013 Sorry for my first reply. it is not allowed please refer the Circular : No. 498 [F. No. 275/111/87-IT(B)], dated 4-11-1987


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro

Follow us
add to google news


Answer Query



Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
Featured 18 July 2026
CA Articleship

apricus india

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

Sahil Agarwal & Company

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 July 2026
Article/Intern/Semi-Qualified/Fresher B.Com

VNSS & Co

Mumbai

Others

View Details