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Deduction U/S 80C

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21 February 2008 An assesee who settle his housing loan and paid final settlement alongwith interest in previous year, then what he can claim full amount of settlement which is more than one lac for taking deduction u/s sec 80C
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CA Saurabh Maheshwari

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CA Saurabh Maheshwari (Expert)
21 February 2008 NO,DEDUCTION U/S 80C IS MAXIMUM UPTO 1 LAKH AND IT CANNOT EXCEED THAT UNDER ANY CIRCUMSTANCES. INTEREST PAID IN RESPECT OF FLAT INSTALMENT CAN BE CLAIMED UPTO RS.150000/- UNDER HEAD HOUSE PROPERTY.
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