House property

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SURESH (Querist)
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08 August 2012 a pvt ltd company taken loan form bank(10000) for constriction building ,and repayment of loan in 10 installment .
can they claim benefit u/s 80c installment amount

srinath

srinath (Expert)
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08 August 2012 No 80C deduction is available only for individual and HUF

So a company cannot claim deduction u/s 80C

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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08 August 2012 Benefit u/s 80C is available to an individual or HUF.

It is NOT available to a company.

If the company uses the said building for the purpose of its business, then deduction of interest shall be allowed while computing Income under the head business.

The interest upto the commencement of operations shall be added to the cost of the building.

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