HOUSING LOAN ISSUE
This query is : Resolved
TARIQUE RIZVI
(Querist)
27 August 2026
RESPECTED SIR
THIS IS ALL ABOUT AY 2026-27 OLD REGIME
=============================
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
THIS IS ALL ABOUT AY 2026-27 OLD REGIME
=============================
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
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.
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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