REGARDING INCOME TAX REBATE US 24(b)


This query is : Resolved 

Quick Summary
This discussion clarifies the tax implications of a housing loan, specifically regarding the income tax rebate. The user is asking whether it's correct to claim a rebate only on the housing loan interest without claiming the 80C deduction for housing loan repayment or education cess. The advice suggests that claiming only the interest rebate and not the 80C deduction is a better option to avoid future queries from the tax department, especially concerning government subsidies received.

(Querist)
22 June 2023 MY CLINT HAS HSG LOAN PAID IN FY 267858 RS TOTAL =PRINCIPAL COMPONENT 214939.00(RECEIVED SUBCIDY FOR GOVT.) AND INTEREST COMPONENT IS 52919.00 RS SO MY QUESTION IS WHEN I FILE THE RETUN AND I M ONLY TAKEN HSG INTEREST REBATE NOT TAKEN 80(C) DEDUCATION HSG REPAYMENT SO PLZ SUGGEST THIS POINT IS RIGHT OR WRONG.. I don't want 80C exemption IN HSG REPAYMENT NOT ONLY FOR INT DEDUCATION FUTURE DEPARTMENT NO ASKING QUESTION


22 June 2023 Depends upon terms for subsidy received.

ANIL BHATI (Querist)
22 June 2023 OKK SIR THANKS
NOW I AM NOT TAKEN THE REBATE IN 80C > INFUTURE I DONT RECEIVED ANY NOTICE REGARDING THIS POINT

22 June 2023 That would be better option.

ANIL BHATI (Querist)
23 June 2023 THANK
DEAR
SIR

23 June 2023 You are welcome.


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