Princial and interest repayment on home loan
This query is : Resolved
05 December 2015
AN PERSON HAVE TAKEN HOME LOAN FROM DHFL BEFORE 5 YEARS, NOW HE AVAILED AN PERSONAL LOAN FROM HIS FRIEND AND REPAID THE DHFL OUTSTANDING LOAN.
NOW HE PAY TO HIS FRIEND AS EMI (PRINCIPAL + INTEREST) EVERY MONTH, IS THE PRINCIPAL IS ALLOWED AS DEDUCTION U/S. 80C AND INTEREST ALLOWED AS EXPENSES U/S. 24b?
NOW HE PAY TO HIS FRIEND AS EMI (PRINCIPAL + INTEREST) EVERY MONTH, IS THE PRINCIPAL IS ALLOWED AS DEDUCTION U/S. 80C AND INTEREST ALLOWED AS EXPENSES U/S. 24b?
CA R SEETHARAMAN
(Expert)
05 December 2015
Only interest payment is allowed u/s 24b.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- ETDS return q4 25-26
- Intimation under section 245
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
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
