Limit for housing loan
This query is : Resolved
16 January 2015
how much principal can be paid ?
is there individual limit as in case of ppf ?
i know 80c limit ...so please dont answer 150000
16 January 2015
pay any amount of money as principal payment but income tax allows only 1.50 lakhs.
Rupesh Jain
(Expert)
17 January 2015
you can pay amount as your pocket allowed but under income tax act deduction rs. 150000/- u/s 80C
CA NAVEEN SINGLA
(Expert)
27 January 2015
Limit of Rs. 1.50 Lacs under section 80C is from the F.Y 2015-16. For F.Y 2014-15 the Limit is Rs. 100000/- u/s 80C
27 January 2015
it is applicable from fy 14-15 refer finance act no 2 of 2014 for more details.
CA NAVEEN SINGLA
(Expert)
27 January 2015
Please see the Finance Act 2 of 2014. it has written w.e.f 01.04.2015 It means F.Y 2015-16 not current F.Y
CA NAVEEN SINGLA
(Expert)
27 January 2015
Sorry I have Misinterpret Mr. Tushar is right. Investment of Rs. 150000/- is for f.y 2014-15.
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