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Housing loan repayment

hiren (abc) (24 Points)

31 July 2015

I have taken loan for my new house. Now I am paying EMI and doing prepayment also.

I want to know about following.

How much repayment can be done in one financial year?

What if repayment amount exceeds my total salary income?

In what case IT Department enquire me about loan repayment?

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2 Replies

JAGANATHAN R ACMA, SAP(Fi-Co) (Manager Accounts and Finance) (915 Points)
Replied 31 July 2015

House loan principal cosider the 80 C for upto Rs.1.5 Lac and interst Rs. 2 Lac

every thing based on your payment . and please keep ready your payment certificate which is received from the bank. the same is most useful if any IT officer will ask.

JAGANATHAN R ACMA, SAP(Fi-Co) (Manager Accounts and Finance) (915 Points)
Replied 31 July 2015

Originally posted by : hiren
	I have taken loan for my new house. Now I am paying EMI and doing prepayment also. I want to know about following. How much repayment can be done in one financial year? What if repayment amount exceeds my total salary income? In what case IT Department enquire me about loan repayment?