Home loan repayment

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 July 2017 what is Exemption on Home Loan Interest (Sec 24) and what is its procedures to file return. if in the fy 2016-17, total deposit of my home loan was rs 162789 and int charged as rs 127549. so which amount will be shown in the itr form.

RAJA P M

RAJA P M (Expert)
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29 July 2017 as per sec 24b income from house property Rs. 200000 available.... Principal components are based on 80C..... deduction u/s 80C Rs. 150000..... You can claim above said value.....

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2017 can I claim total interest amount in 80c

RAJA P M

RAJA P M (Expert)
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31 July 2017 Yes. You can claim above said interest amount. In case you have any other deductions under 80C you allow in balance only... It means : 80C deductions Rs. 150,000 Interest Rs. 127549 Limit Rs. 150,000= after Rs. 22451 only claim others.... Lic, Tuition fee, SB interest, etc.,

Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2017 ok thanks ..

RAJA P M

RAJA P M (Expert)
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31 July 2017 You are WELCOME........

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