Housing Loan Interest
This query is : Resolved
Guest
Guest
(Querist)
02 September 2008
Can deduction under section 80C allowable on housing loan interest as the person having loan is paying interest continously and dont have possession after two years. Should I give him the benefit U/s 80c or it will be applicable after two years
Thanks
Ragards
Rajesh
Thanks
Ragards
Rajesh
02 September 2008
benefit of intt is taken in sec 24 & not in 80C & benefit is available after possession.
Guest
Guest
(Querist)
02 September 2008
Sec 24 is related to house property
If that person have only salary income then what should do?
Sec 80c covers Interst paid on housing loan and it is applicable only on salary.
As concern to your reply i think he can't get any deducton till possession.
If that person have only salary income then what should do?
Sec 80c covers Interst paid on housing loan and it is applicable only on salary.
As concern to your reply i think he can't get any deducton till possession.
05 September 2008
Sec 80-C does not cover interest on house property. It only cover principal repayment. For interest he has to calculate income/loss from house property and can set off against salary income.
Regards,
CA. Sandeep Aggarwal
Regards,
CA. Sandeep Aggarwal
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