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House property

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 June 2017 Sir,

Our Client has bought a land and constructed a House on it. He has taken a House loan. Within the same year he has sold the property.and also has repaid the entire house loan.
we are taking the capital gain part.
but can we claim the 80 c deduction for the repayment and 24(b) for the interest on borrowed capital?
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
22 June 2017 Yes you can claim deduction of repayment of housing loan.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
22 June 2017 80C and 24(b) cannot be claimed since the house is sold out.
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