Deduction u/s. 80 c
This query is : Open
Suresh D Shah
(Querist)
17 February 2014
Whether a deduction available under section 80C for payments made towards a loan from employees' Co-op Society
CA PARAS BAFNA
(Expert)
17 February 2014
If such a loan has been taken from the co-op Society of which the assessee is a member and the said loan has been taken for acquiring a residential house property, then deduction U/s 80C can be availed towards repayment of loan.
Suresh D Shah
(Querist)
21 February 2014
Whether such loan should be a term of more than 5 years or more ? And if the same is repaid within a year or two years, then eligible for deduction under Section 80C ?
Thanking you,
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