Learner
1867 Points
Posted on 28 February 2010
Yes.....You can claim the Interest paid as deduction under IFHP.........
Any interest paid (or outstanding) on capital borrowed for the purpose of purchase, construction, reconstruction, renewal, repairs of HP is allowed as deduction......
U/s 80 C to claim the principal repayment - Repayment of housing loan taken from Government, Banks, Housing Development Authority for construction or purchase of a house......Only Post construction Principal allowed.....