Income tax deduction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 February 2013
a house is under construction & payment is made towards loan taken for house. tell me whether deuction can claim for loan payment amount & tell me the section wise detail
22 February 2013
You can claim deduction u/s 80C of the Principal amount paid towards instalment of housing loan.
For claiming deduction of interest there are two ways:
1. you can claim interest paid u/s 80C.
OR
2. You can claim interest expenses u/s 24 once the property is constructed in 5 years instalment. However interest per year should not exceed 150000/-.
For claiming deduction of interest there are two ways:
1. you can claim interest paid u/s 80C.
OR
2. You can claim interest expenses u/s 24 once the property is constructed in 5 years instalment. However interest per year should not exceed 150000/-.
22 February 2013
Agree with expert Anand
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