Loan from credit society
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 October 2014
SIR
WE ARE THE TEACHERS IN AIDED SCHOOL AND HAVING OUR OWN CREDIT SOCIETY , FROM WHICH WE TOOK LOAN OF RS. 10 00 000/- FOR HOUSING PURPOSE . THEY GIVE US THE CERTIFICATE STATING 'LOAN FOR HOUSING PURPOSE ' IS IT INTEREST ON THIS LOAN IS EXEMPTED FROM INCOME TAX ?
WE ARE THE TEACHERS IN AIDED SCHOOL AND HAVING OUR OWN CREDIT SOCIETY , FROM WHICH WE TOOK LOAN OF RS. 10 00 000/- FOR HOUSING PURPOSE . THEY GIVE US THE CERTIFICATE STATING 'LOAN FOR HOUSING PURPOSE ' IS IT INTEREST ON THIS LOAN IS EXEMPTED FROM INCOME TAX ?
28 October 2014
you can claim deduction for the interest paid under section 24 of the Income-tax act...
16 December 2014
when u pay the principle amount u can get 80C deduction..............
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Relief u/s Section 89
- Nomination of Bank for refund in itr 2
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- STCG on ETF gold & silver
- CG after sale of flat
- 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
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
