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Deduction on housing loan

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(Querist)
26 February 2013 hi sir
one of my assesee taken housing loan from various source other than bank is any deduction for that loan ?
Plz help me?
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jaydip a. limbasiya

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jaydip a. limbasiya (Expert)
26 February 2013 (1) only interest is deductible u/s 24(b).
(2) No deduction of principle repayment is made u/s. 80(c)
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chandan

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chandan (Querist)
26 February 2013 thanks sir



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@VaibhavJ

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@VaibhavJ (Expert)
26 February 2013 He has to take confirmation of int paid so that there will not be any hassle if any notice is received..
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
26 February 2013 for 80C loand can be taken other than bank
but from below:
central govt or state govt
LIC
public company
employer but employer must be board or co, established under Central or state act
otherwise 80C will not be available
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CA Prashant Gupta

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CA Prashant Gupta (Expert)
26 February 2013 interest u/s 24(b) will be available
but need to give proof which is jsutified and valid according to ITO

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