Prepayment of housing loan
This query is : Resolved
27 February 2012
If one person claim prepayment of housing loan amt rs. 1,00,000 for any financial year under 80C Deduction, whether he will get the deduction on entire prepayment amt or only the principal amt of housing loan.
Vipul J. Bhavsar
(Expert)
27 February 2012
He can claim deduction under section 80 C of the amount pre-paid and principal amount but limited upto Rs.1 Lac
27 February 2012
Further to what Vipul said, the deduction for interest shall be available while computing income under the head House Property, subject to limits specified therein.
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