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Housing loan

This query is : Resolved 
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(Querist)
22 August 2014 Is there any condition that exemptions under section 80c of housing loan is available only when loan taken from Nationalised banks and not from NBFC ?
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CA SUNIL K GARG

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CA SUNIL K GARG (Expert)
22 August 2014 pls go through clause xviii (c) of sec 80 C 2

REPAYMENT OF HOUSING LOAN IS ELIGIBLE FOR DEDUCTION U/S 80 C , IN CASE OF NBFC COMAPNY ALSO , PROVIDED THE COMPANY HAS BEEN FORMED WITH THE MAIN OBJECT OF PROVIING LONG TERM FINANCE FOR HOUSING
IT MEANS IF NBFC COMPANY PROVIDES HOME LOAN , THEN REPAYMENT IS ELIGIBLE FOR DEDUCTION U/S 80 C/ e g home loan from india bull, dewan housing finance, reliance home finance etc
Profile Image

CA SUNIL K GARG

Profile Image

CA SUNIL K GARG (Expert)
22 August 2014 pls go through clause xviii (c) of sec 80 C 2

REPAYMENT OF HOUSING LOAN IS ELIGIBLE FOR DEDUCTION U/S 80 C , IN CASE OF NBFC COMAPNY ALSO , PROVIDED THE COMPANY HAS BEEN FORMED WITH THE MAIN OBJECT OF PROVIING LONG TERM FINANCE FOR HOUSING
IT MEANS IF NBFC COMPANY PROVIDES HOME LOAN , THEN REPAYMENT IS ELIGIBLE FOR DEDUCTION U/S 80 C/ e g home loan from india bull, dewan housing finance, reliance home finance etc
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