banner_ad

Rebate u/s 80c

This query is : Resolved 
Profile Image

Profile Image

(Querist)
21 February 2013 A person purchase an old residential house from his own fund. Can he get Rebate U/S. 80 C towards payment for purchase of resident house?

If he will take loan from any person (other than bank or housing finance or other financial institute) can he get rebate U/S. 80 C towards payment for purchase of resident house?

Please give case reference if any
Profile Image

Mohit Naithani

Profile Image

Mohit Naithani (Expert)
21 February 2013 1st case : An assessee is not be able to claim any deduction if he bought a new house from his own fund.
Profile Image

CA Prashant Gupta

Profile Image

CA Prashant Gupta (Expert)
21 February 2013 for 1st part agree with Mr. Mohit

but in second case it is wrong. you can't claim 80C if you take loan from a individual.
only following loans are permissiable:
Loan from
central Govt or State Govt
Bank including co-operative banks
LIC
National housing bank
Public company
assessee employer but employer must be public company
Profile Image

CA. Jatin Gupta

Profile Image

CA. Jatin Gupta (Expert)
21 February 2013 agree with Mr Prashant Gupta
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details