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DEDUCTION OF PRINCIPAL AMOUNT OF FLAT PURCHASED U/S 80 C

This query is : Resolved 
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(Querist)
16 August 2008 I HAVE PURCHASED A FLAT FROM A BUILDER AND I AM PAYING ONLY PRINCIPAL AMOUNT IN INSTALMENT (WITHOUT INTEREST)TO MY BUILDER.

NOW THE QUESTION IS --- WHETHER AMOUNT (INSTALMENT) PAID TO BUILDER IS ELIGIBLE FOR DEDUCTIION U/S 80 C OF INCOME TAX ACT?
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
16 August 2008 loans are taken from any bank or financial institutions are allowed principal amount if your builder give finance to you for construction of house is not allowed US 80C
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CA. Harinder Kumar

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CA. Harinder Kumar (Expert)
17 August 2008 Not allowed rason expain above
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
07 November 2021 As it is not considered as home loan. It is just installments paid.
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