Housing loan interest amount deduction

This query is : Resolved

ajay (Querist)
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27 February 2017 SIR
MY HOUSING LOAN INTEREST AMOUNT FOR F.Y. 2016-17 IS RS. 300000/- AND PRINCIPAL AMOUNT IS RS. 60000/- CAN I USE EXCESS INTEREST AMOUNT 300000-200000=100000 IN 80C.
IT IS AS PER IT RULE THAT WE CAN USE HOME LOAN INTEREST AMOUNT IN SECTION 80C

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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27 February 2017 Housing loan interest is deductible from income from house property and repayment of principal is only deductible u/s 80C.

Tony John

Tony John (Expert)
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27 February 2017 Sorry, you cannot claim interest in excess of Rs.2,00,000 on housing loan taken on self occupied property under Section 80C.
But full principal repayment of Rs.60.000 is allowable under Section 80C