House property
This query is : Resolved
03 April 2014
helloz..
Plz guide me regarding taking deduction of Int on Housing Loan..and deduction of Principal Amt. For deduction of Principal Amt what should be considered??- as on date (respecive 31st march)outstanding Loan amt or Repaid principal Amt?
Plz guide me regarding taking deduction of Int on Housing Loan..and deduction of Principal Amt. For deduction of Principal Amt what should be considered??- as on date (respecive 31st march)outstanding Loan amt or Repaid principal Amt?
03 April 2014
Hi Sonal,
Interest on housing loan is allowed as deduction as under,
--If property is not let out, deduction
allowable upto Rs.1,50,000 p.a.
--If property is let out, then any amount
paid as interest is allowable as deduction
Principal amount of loan is allowalbe u/s 80C (i.e. upto Rs.1,00,000)
Principal amount of loan which is repaid during the year is allowable as deduction.
Regards,
Devanand
Interest on housing loan is allowed as deduction as under,
--If property is not let out, deduction
allowable upto Rs.1,50,000 p.a.
--If property is let out, then any amount
paid as interest is allowable as deduction
Principal amount of loan is allowalbe u/s 80C (i.e. upto Rs.1,00,000)
Principal amount of loan which is repaid during the year is allowable as deduction.
Regards,
Devanand
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03 April 2014
Thank you..Devanand Sir..
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