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80c deductions

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(Querist)
21 January 2014 Sir,
Is Deduction of Housing loan repayment will be allowed only when the loan is taken from recognized Institutions and banks ? If the housing loan is taken from an individual then the deduction U/S 80C will be allowed or not?
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
21 January 2014 U/s 80C Deduction can be claimed towards repayment of housing loan taken from Govt., bank,cooperative bank, LIC, NHB, assessee's employer if the employer is public company or public sector company or university or cooperative society. So, it is clear from the above that repayment of housing loan from any individuals are not allowed
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B.V.Vijaya Lakshmi

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B.V.Vijaya Lakshmi (Querist)
21 January 2014 Thank You so much sir
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