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Interest on housing loan

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(Querist)
30 July 2012 Please tell me whether interest on repayment of loan taken for purchase/construction of residential house property should be claimed as deduction u/s 24 or it should be claimed as deduction u/s 80C?? and what is difference between these two provisions?? please clarify.
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aadish

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aadish (Expert)
30 July 2012 Dear interest is to be claimed under sec 24, and principal repayments can be claimed as deduction under sec80C.

Hope you get your answer.
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CA Ashish Gupta

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CA Ashish Gupta (Querist)
30 July 2012 But sec 80C provides deduction for repayment of INSTALLMENT amount. It has not made clear that it is for only principal repayment. As installment may include principal as well as interest. So how can we segregate it for the purpose of deduction??
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CA mahesh birla

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CA mahesh birla (Expert)
30 July 2012 you claim interest in u/s 24 and principal in 80C from the instalment.
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aadish

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aadish (Expert)
30 July 2012 ab bta dia naa,...
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
31 July 2012 under 80C- repayment of Housing Loan
under 24B- interest on housing loan
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