Deduction u/s 80c for housing loan installment
This query is : Resolved
28 October 2013
My housing loan balance as on 01/04/2012 is Rs 9.92 lacs. I have paid 12 installment of rs 8600/- each, Bank has debited Interest of Rs.113839/- and my Cl. Bal as on 31/03/2013 is Rs 10.03 lacs.
can I claim deduction u/s 80C of rs 103200/- and u/s 24 interest of Rs 113839/-
can I claim deduction u/s 80C of rs 103200/- and u/s 24 interest of Rs 113839/-
28 October 2013
Dear Yogesh,
I think you are confusing the matter. You are eligible for claiming interest of Rs 113839 under 24B. but assuming thats the interest, then you have actually repaid nothing against the principal. the whole of your EMI has gone against the interest repayment.
The total payment made is 103200 however interest is higher than this. So the application of the repayment has gone against the interest.
I think you are confusing the matter. You are eligible for claiming interest of Rs 113839 under 24B. but assuming thats the interest, then you have actually repaid nothing against the principal. the whole of your EMI has gone against the interest repayment.
The total payment made is 103200 however interest is higher than this. So the application of the repayment has gone against the interest.
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