Deduction u/s 24b of interest paid on loan
This query is : Resolved
01 September 2017
Sir
My client had taken home loan in 2002 and it is running till date. I am in confusion about the availability of deduction u/s 80C and 24B against the interest paid on loan. The interest portion is 37000/-. Can I avail full deduction?
Pl advise will I proceed with the deductions or not. I have to file return for the assessment year 2016-17 & 2017-18.
Regards
My client had taken home loan in 2002 and it is running till date. I am in confusion about the availability of deduction u/s 80C and 24B against the interest paid on loan. The interest portion is 37000/-. Can I avail full deduction?
Pl advise will I proceed with the deductions or not. I have to file return for the assessment year 2016-17 & 2017-18.
Regards
01 September 2017
Eligible for 37,000 per 2nd proviso to section 24(b).
02 September 2017
Sir
The principal amount can also be availed of Rs.11062.
Pl reply
The principal amount can also be availed of Rs.11062.
Pl reply
02 September 2017
Sir
The principal amount can also be availed of Rs.11062 u/s 80C. Pl reply
The principal amount can also be availed of Rs.11062 u/s 80C. Pl reply
CA. Sunil Gokhale
(Expert)
11 September 2017
Yes, principal amount repaid can be claimed u/s 80C.
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