Deduction u/s 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 August 2012 Respected Sir,
I have purchased a plot by taking the loan from the bank. the plot was registered on the name of my daughter.I am Repaying the loan Shall i eligible for deduction u/s 80c &24(b)for the Interest.
Thanking u sir.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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27 August 2012 Principal & Interest payment on loan taken for purchase of plot not eligible for deduction. section 80C & Section 24b both are allows deduction of purchase or construction of house property only.so principal & interest repayment on plot purchase not eligible for deduction. also owner of the house property has eligibility to claim u/s.80C and 24b.

Guest

Guest (Expert)

27 August 2012 Deduction u/s 80C and 24b not admissible for plot.

Querist : Anonymous

Querist : Anonymous (Querist)

28 August 2012 Thank u sir..

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