Housing loan interest amount deduction
This query is : Resolved
27 February 2017
SIR
MY HOUSING LOAN INTEREST AMOUNT FOR F.Y. 2016-17 IS RS. 300000/- AND PRINCIPAL AMOUNT IS RS. 60000/- CAN I USE EXCESS INTEREST AMOUNT 300000-200000=100000 IN 80C.
IT IS AS PER IT RULE THAT WE CAN USE HOME LOAN INTEREST AMOUNT IN SECTION 80C
MY HOUSING LOAN INTEREST AMOUNT FOR F.Y. 2016-17 IS RS. 300000/- AND PRINCIPAL AMOUNT IS RS. 60000/- CAN I USE EXCESS INTEREST AMOUNT 300000-200000=100000 IN 80C.
IT IS AS PER IT RULE THAT WE CAN USE HOME LOAN INTEREST AMOUNT IN SECTION 80C
27 February 2017
Housing loan interest is deductible from income from house property and repayment of principal is only deductible u/s 80C.
27 February 2017
Sorry, you cannot claim interest in excess of Rs.2,00,000 on housing loan taken on self occupied property under Section 80C.
But full principal repayment of Rs.60.000 is allowable under Section 80C
But full principal repayment of Rs.60.000 is allowable under Section 80C
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