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Deduction of Home Loan

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(Querist)
17 December 2009 If the assessee has taken loan for a plot, then whether he is entitled for deduction for principal as well as interest payment of loan ? Principal repayment Deduction u/s 80C and interest on HSg loan U/s 24 ?

Deduction u/s 80C narrates house property while deduction u/s 24 narrates property for the said deduction .

Please explain.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
20 December 2009 Yes , He can claim Interest under Sec.24 & Housing principle under Sec.80 C
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ANIL JANGID

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ANIL JANGID (Expert)
20 December 2009 agree
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