Claiming the excess paid loan payments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 November 2013
Dear Expert,
i need help in the following example.
In a F.Y Rs 4 lakh of interest and Rs 7.5 lakh of the principal, is repaid towards Housing loan then i may be able to claim a deduction under section 80C for principal payment of Rs 1 lakh and under section 24 for interest payment of Rs1.5 lakhs .
But can i claim remaining 2.5 lakh interest & 6.5 lakh Principle amount if yes then when & how
pls help me
i need help in the following example.
In a F.Y Rs 4 lakh of interest and Rs 7.5 lakh of the principal, is repaid towards Housing loan then i may be able to claim a deduction under section 80C for principal payment of Rs 1 lakh and under section 24 for interest payment of Rs1.5 lakhs .
But can i claim remaining 2.5 lakh interest & 6.5 lakh Principle amount if yes then when & how
pls help me
CA JATIN TALREJA
(Expert)
12 November 2013
Interest on borrowed capital for acquiring or constructing a property (for current year and preconstruction period) shall be riestricted to Rs.150000/-u/s 24(b)and principal amount upto Rs.100000/- u/s 80C .The provisons of carry forward of Interest payment is available but only under sec 80EE (wef from AY 2014-15).
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
