Sec 8C Deduction on Housing loan repayment - Income Tax Forum - Chartered Accountants India,Taxpayers, CAs India, CA india ,ICAI, Company Secretary ,CS, Cost Accountants, MBA, Finance Professionals

Discussion > Income Tax > Tax queries > Sec 8C Deduction on Housing loan repayment

Pages : 1

There are 2 Replies to this message

Benny Thadathil
CDM
[ Scorecard : 34]

Posted On 28 January 2010 at 18:32

Report Abuse / Feedback

Note : The above form can be used to intimate the moderators regarding abuse of the platform.

Can an individual claim housing loan principal under 80C even before pre-occupation of house property. Ie Interest amount can be claimed only after occupuation of the property, is this applicable for Principal repayment also.

Vivek
Finally passed CA Final...!!!!!
[ Scorecard : 1033]

Posted On 28 January 2010 at 19:08

Yes... For claiming deduction, the construction must be complete....

Total thanks : 1 times

Ordinarily resident Evil
Student
[ Scorecard : 1274]

Posted On 28 January 2010 at 19:13

Dear Benny, it is not necessary to claim 80C deduction for principal or 24(b) for interest whether the house is occupied.

To claim 80C, the only condition is that the construction of the house should be completed before u claim the principal repaid as deduction.

To claim interest the house can be vacant, self occupied or let out. But the amount allowed as deduction is different in each situation.

Total thanks : 1 times

Related Threads

more >>

Report Abuse / Feedback

Related Threads

Post your reply for Sec 8C Deduction on Housing loan repayment

Message