Car & home loan
This query is : Resolved
MOHIT AHUJA
(Querist)
04 July 2014
Dear expert,
kindly clarify me that i have taken car loan & home loan. I have monthly deposted the installment.
whether i have taken any of loan installment exemption in filling of my ITR.
Deepti Asawa
(Expert)
04 July 2014
Yes,you can claim deduction u/s 80C for repayment of home loan.
Rupesh Jain
(Expert)
04 July 2014
if you self occupied house then intt can claim u/s 24(b) and principle of housing loan u/s 80c.
and NO deduction of car loan available to individual who are not doing business . if your doing business then you can claim in business.
and NO deduction of car loan available to individual who are not doing business . if your doing business then you can claim in business.
04 July 2014
whatever u paid as installment for a fy for only home loan as principle amount is allowed as deduction u/s 80C and int u/s 24(b).
no deduction for motor loan.
no deduction for motor loan.
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