Housing loan interest & principal deduction

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 March 2016 a person pays housing loan instalment of Rs. 25000 per month i.e. Rs. 300000/- during the f. y. 2015-16
interest portion is Rs. 230000/-
principal portion is Rs. 70000/-

House is not completed during the f.y. 2015-16

Can he get deduction for principal portion u/s 80 C

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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09 March 2016 Tax deduction u/s 80C not eligible for principal portion under construction. Relevant clause u/s 80C (2) (xviii) for purpose of purchase or construction of residential house property income from which chargeable to tax under the head income from house property.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 March 2016 Agreed with kaviraj above reply....................

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