shrinivas2004@gmail.com (Teacher) (21 Points)
31 January 2017
Saikrishnan S
(Chartered accountant - Plintron)
(186 Points)
Replied 13 February 2017
Interest repayment shall be claimed as a deduction under section 24 of Income tax act under Income from house property. However, the limit is Rs. 30,000/- Per annum i.e you can claim deduction of Rs. 30,000 for 1 financial year starting from April - March.
With respect to Prinicipal payment, as per my knowledge you cannot claim any deductions on the repayment.
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