INTEREST OR PRINCIPAL UNDER 80 C?
This query is : Resolved
21 July 2010
MR.S PURCHASES A FLAT FOR RS.5 LACS WHICH IS A LOAN FROM SBI
A. INTEREST
OR
B. PRINCIPAL + INTEREST
WHAT IS DED. UNDER SECTION ?
A. INTEREST
OR
B. PRINCIPAL + INTEREST
WHAT IS DED. UNDER SECTION ?
21 July 2010
1. Repayment of Loan u/s 80C
2. Interest on Loan u/s 24 under income form house property
2. Interest on Loan u/s 24 under income form house property
21 July 2010
repayment of Principle amount will be allowed as deduction u/s 80c and interest amount will be allowed u/s 24
22 July 2010
THANKS VERY MUCH SIR,
I WANT TO KNOW WHOM CAN CLAIM DEDUCTION UNDER THIS >
A. ON WHOM LOAN IS SANCTIONED
OR
B. WHO USE SUCH FUND ?
I WANT TO KNOW WHOM CAN CLAIM DEDUCTION UNDER THIS >
A. ON WHOM LOAN IS SANCTIONED
OR
B. WHO USE SUCH FUND ?
22 July 2010
The Fund should be used by the person who has bought the property amd for which loan has been sanctioned. If The loan is not used for the property bought, the decution will not be available to any one - neither the person who borrowed nor the person who used.
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