Loan taken for purchase of the property
This query is : Resolved
Eswar Reddy S
(Querist)
16 June 2014
Can any body tell me , whether interest on loan taken for purchase of property is eligible for deduction u/s 24?
Is the principal is deductible under 80C?
Nikhil Kaushik
(Expert)
17 June 2014
for loans take by individual/huf for purchase of a house, the deduction is available under both 24b and 80c
17 June 2014
yes both are eligible if its for purchase or construction of property.
Rupesh Jain
(Expert)
20 June 2014
yes intt. u/s 24(b) Rs. 150000/- for self occupied and for let out property no limit and principal amount will be calim u/s 80C.
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