Deduction u/s 80c
This query is : Resolved
29 January 2014
I am a member of Registered Society. Every member need to invest Rs.1000000/- for construction of flat and allotment of one flat to each member of society.
My query is whether I can claim deduction u/s 80C for above investment or not.
My query is whether I can claim deduction u/s 80C for above investment or not.
29 January 2014
Yes You can claim deduction for the instalments/part payments made to the the society under 80C(xviii(b)
:any instalment or part payment of the amount due to any company or co-operative society of which the assessee is a shareholder or member towards the cost of the house property allotted to him
:any instalment or part payment of the amount due to any company or co-operative society of which the assessee is a shareholder or member towards the cost of the house property allotted to him
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