Deduction u/s 80c

This query is : Resolved

RAJ (Querist)
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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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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

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