Interest on lloan exemption u/s 80 c / 24(b)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2012
Kindly advise on availing exemption of the following:
Assessee is Salaried employee and having own house which is given for letout.
He has availed a loan from NBFC on that property (not for purchase of property mortgaged)and the NBFC providing the interest certificate as Housing loan to be claimed u/s 80C(2)(XViii) & 24 (b) of the Income Tax Act, 1961.
Kindly guide what is the maximum deduction for the AY 2013-14
Assessee is Salaried employee and having own house which is given for letout.
He has availed a loan from NBFC on that property (not for purchase of property mortgaged)and the NBFC providing the interest certificate as Housing loan to be claimed u/s 80C(2)(XViii) & 24 (b) of the Income Tax Act, 1961.
Kindly guide what is the maximum deduction for the AY 2013-14
07 September 2012
80 C INTEREST AMOUNT
24 (b) PRICIAL AMOUNT FOR HOUSE LOAN IN CLAIM FULL AMOUNT
24 (b) PRICIAL AMOUNT FOR HOUSE LOAN IN CLAIM FULL AMOUNT
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 September 2012
80(c) may be principle repaid and 24(b) for interest .
Please confirm
Please confirm
07 September 2012
yes, you are right. 24(b) interest borrowed capital is deductable up to 150000/-
and also pricipal value deduct 80 c
and also pricipal value deduct 80 c
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