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Interest free housing loan from employer

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(Querist)
18 February 2012 my query is that, my company provides interest free housing loan to employee,
my first question is that what paper should be kept for the side of emploee for that loan, is that any declearation required from the employer?

now secone question is that the payment of that is allowed u/s 80C or not?

Please give the necessary guidence?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
19 February 2012 Yes. repayment of housing loan principal taken from employer by the employee is allowable deduction u/s.80C.

you need to sign and take one loan agreement from employer with mentioning all the conditions and repayment schedule. for claiming deduction need to be taken certificate of repayment during the period
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