80c
This query is : Resolved
04 February 2015
experts, whether 80c deduction can be claimed against principal payment of house loan for commercial purpose...??
04 February 2015
Hi,
80 C states repayment of loan for residential house property is allowed if income such property is chargeable under income from house property ( or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head).
So if the income from property you have stated falls under any head other than Income from House Property then deduction for repayment of housing loan will not be available.
80 C states repayment of loan for residential house property is allowed if income such property is chargeable under income from house property ( or which would, if it had not been used for the assessee's own residence, have been chargeable to tax under that head).
So if the income from property you have stated falls under any head other than Income from House Property then deduction for repayment of housing loan will not be available.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- FEMA regulation Act. for inward remitance
- Grand in aid
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
