Dharmendra kumar
CA Final
[ Scorecard : 110]
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Posted On 22 January 2010 at 16:54
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Is Housing Loan Repayment for Let Out House Property is deductible under section 80C? plz reply.. its urgent.....
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D н ! я σ ĵ
F!N/\L
[ Scorecard : 7060]
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Posted On 22 January 2010 at 16:59
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Ofcoarse its deductible
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M@HAVIR
Student
[ Scorecard : 60]
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Posted On 22 January 2010 at 16:59
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Yes it is deductible...subject to overall limit of Rs.1 Lac under Sec 80C...
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sathikonda
Tax Consultant
[ Scorecard : 833]
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Posted On 22 January 2010 at 17:02
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Mr.Dharmendra Kumar
Section 80C(2)(xviii) is very clear. Pleasse go through the section. You can claim the repayments made towards housing loan obtained for construction/purchase of a house. The said house may be self occupied or may be let out.
Best Wishes
Sathikonda
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Phoenix
Awaiting Resurrection
[ Scorecard : 1698]
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Posted On 22 January 2010 at 17:03
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| Originally posted by : Dharmendra kumar |
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Is Housing Loan Repayment for Let Out House Property is deductible under section 80C? plz reply.. its urgent..... |
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only the principal is covered by 80C.. interest is covered by 24(b)
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sathikonda
Tax Consultant
[ Scorecard : 833]
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Posted On 22 January 2010 at 17:06
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Mr.G.K.
You are correct. Mr.Dharmendra kumar is talking about repayment of principal only.
Best Wishes
Sathikonda
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C.Balaji
Student
[ Scorecard : 1616]
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Posted On 22 January 2010 at 17:09
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agree with G.K.
Principal is covered u/s 80c and Interest u/s 24b
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S.P.Mahanta
Internal Auditor
[ Scorecard : 151]
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Posted On 22 January 2010 at 17:49
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U/S 80C, any payment made to Bank/ financial institution on loan towards cost of purchase/construction of residential property is eligible as qualifying amount subject to max: limit of Rs.1,00,000/-. The interest component qualifies for deduction U/S 24b up to Rs.1,50,000/- subject to purchase/construction after 1999.
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Yash Sharma
CA-PCC
[ Scorecard : 64]
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Posted On 22 January 2010 at 19:08
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deduction upto total of Rs. 1 lahk for principal u/s 80c , rebate for interest u/s 24 upto Rs. 150000 ,
no rebate for any fine charged by bank or any interest charged over any unpaid fine
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Sumit Arora
CA FInal New Course
[ Scorecard : 1139]
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Posted On 23 January 2010 at 11:11
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Yes it is deductible.
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