Housing loan eligible for deduction u/s 80c
This query is : Resolved
26 December 2012
Whether loan taken from individual is eligible for deduction u/s 80C. Also state the list of persons from whom loan taken for housing loan are eligible for such deduction and interest u/s 24(b).
Please advise.
Please advise.
26 December 2012
No, loan taken from individual is not eligible for deduction u/s 80C;
To get deduction u/s 80C, loan should be taken from Specified institutions/deptt only given below:
1. Central or State Government
2. Any Bank including co-operative bank
3. LIC or National Housing Bank
4. public company formed and registered in India or co-operative society with main object to provide long term finance for construction purchase of houses in India.
5. Assessee Employer if public company or public sector company or university established by law or a college affiliated to such university or local authority or co-operative society.
To get deduction u/s 80C, loan should be taken from Specified institutions/deptt only given below:
1. Central or State Government
2. Any Bank including co-operative bank
3. LIC or National Housing Bank
4. public company formed and registered in India or co-operative society with main object to provide long term finance for construction purchase of houses in India.
5. Assessee Employer if public company or public sector company or university established by law or a college affiliated to such university or local authority or co-operative society.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Gift Received from nonblood relative
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
