Deduction u/s 80c
This query is : Resolved
Sandeep Goyal
(Querist)
03 March 2012
I have taken the loan for plot whether repayment is deductible u/s 80C ????? and if i have constructed residential house on this plot then???
Dintakurthi Tirumala
(Expert)
03 March 2012
Repayment of loan taken on plot is not eligible to deduct u/s 80C loan taken for the purpose of construction of residential house or purchase of residential house only eligible to get deduction under section 80C and 24(b). If you constructed the residential house on that plot then also for the repayment related to such plot loan not eligible U/S 80C deduction in case you taken loan for the purpose of construction of residential house such loan repayment is eligible to get deduction U/S 80C.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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