Principal repayment u/s 80c
This query is : Resolved
27 January 2014
Suppose, I have a housing loan that I am repaying for half year; and then I am refinancing that loan from another FI. My question is which principal amounts will be eligible for deduction U/S 80C. There are 3 principal amounts here:
1) The Principal amount paid of the original loan from EMI (which will be allowed)
2) Prepayment of Principal using the money from Refinance
3) Monthly principal payment for the Refinance Loan from EMI
So, out of 2 and 3 which will be allowed as deduction U/S 80C?
1) The Principal amount paid of the original loan from EMI (which will be allowed)
2) Prepayment of Principal using the money from Refinance
3) Monthly principal payment for the Refinance Loan from EMI
So, out of 2 and 3 which will be allowed as deduction U/S 80C?
Rohit Agarwal
(Expert)
27 January 2014
Prepayment of principal shall not be allowed
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