CA Gayathri Sankaran (CA) (62 Points)
22 December 2012The principal repayment portion of house loan taken is deducted from income house property along with interest portion under section 24.
The principal repayment portion is eligible for deduction under section 80c as well subject to certain conditions.
I want to know if an individual can get both the above deductions at a time? or will it amount to double deduction?
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 22 December 2012
Only interest portion is available as deduction u/s 24
u/s 80c principal repayment is available as deduction
ok
Principle repayment is not available as deduction u/s 24
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