Deduction u/s 80c
This query is : Resolved
20 July 2019
Does Principal and Interest (on housing loan) both qualify for deduction u/s 80C?
My client is employee in Corporation Bank. Bank has issued Form 16 for A.Y. 2019-20, where in Principal + Interest that is total installment has been shown as deduction u/s 80C
Also, Interest is shown as deduction u/s 24(b) under the head Income from house property.
Is the calculation given by Bank in Form 16 correct?
My client is employee in Corporation Bank. Bank has issued Form 16 for A.Y. 2019-20, where in Principal + Interest that is total installment has been shown as deduction u/s 80C
Also, Interest is shown as deduction u/s 24(b) under the head Income from house property.
Is the calculation given by Bank in Form 16 correct?
20 July 2019
Not correct only principal can be shown as deduction u/s 80C.
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