Deduction of Home Loan
This query is : Resolved
CA Umesh Sakpal
(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.
Deduction u/s 80C narrates house property while deduction u/s 24 narrates property for the said deduction .
Please explain.
CMA Ramesh Krishnan
(Expert)
20 December 2009
Yes , He can claim Interest under Sec.24 & Housing principle under Sec.80 C
ANIL JANGID
(Expert)
20 December 2009
agree
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