Levy fees on Housing laon
This query is : Resolved
28 July 2009
My question is : Repayment of housing loan taken from LIC is paid in full and final dues before maturity, and LIC charge levy fees , Is it exempted under Interest charges . And other question is : The repayment is paid before maturity , is the whole amount is deductable under 80C or what extent. Please clarify me.
Thanks.
Thanks.
28 July 2009
Repayment is allowed under section 80 C with upper limit of 1,00,000/-. So, u can claim the benefit only upto max of 1 lac.
Repayment made before maturity doesn't affect the benefit allowed. the extent is 1 lac only for pricipal repayment. for interest paid on loan, u can claim benefit u/s 24 b upto Rs 1.50 lac
Repayment made before maturity doesn't affect the benefit allowed. the extent is 1 lac only for pricipal repayment. for interest paid on loan, u can claim benefit u/s 24 b upto Rs 1.50 lac
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Gift of mutual fund units to daughter
- TDS ON CASH WITHDRAWALS...
- Reporting of STCG on Property in ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
