HOUSING LOAN ISSUE

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TARIQUE RIZVI (Querist)
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27 August 2026 RESPECTED SIR

THIS IS ALL ABOUT AY 2026-27 OLD REGIME
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INTEREST ON HOUSNG LOAN SHALL BE DEDUCTED FROM THE HOUSE AND PROPERTY INCOME WHICH WILL REFLECT IN MINUS ( ALLOWABLE UPTO RS 2 LACS ) IN FY 2025-26

AND

EMI PAID SHALL BE CLAIMED UNDER SECTION 80-C ( IS THERE ANY LIMIT OF DEDUCTION OF EMI) IN FY 2025-26

AM I RIGHT SIR

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)
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27 August 2026 Interest Deduction: Correct (Up to Rs. 2 Lakhs under Section 24(b) for self-occupied property).

Principal Repayment (80C): Only the principal component qualifies, and it is strictly subject to the overall Rs. 1,50,000 ceiling limit under Section 80C.

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