Housing Loan Exemption

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Vivek Banginwar (Querist)
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15 October 2008 One employee of SBI was voluntarily retired and disbursed his housing loan which was standing against him and claimed exemption u/s 24 in the return.Whether it is admissible or not? If Yes so kindly quote the section.

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Guest (Expert)

15 October 2008 my opinion about it any person who has taken home loan can claim the interest on home loan u/s 24 and he can also avail the deduction u/s 80c for repayment of loan upto Rs. 1 lac. so interest will be deducted from the income from house property and principal amount can be claimed u/s 80C

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