Repayment of principal amount of home loan- benefit of 80c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 April 2013
Amount of Principal repaid in EMI of Home Loan is eligible for deduction under section 80C. Will it make a difference if house is given on rent during the year? Is benefit allowed irrespective whether house is for own residence or is rented out in the relevant financial year?
16 April 2013
Yes, deduction is allowable irrespective of either self occupied or given on rent.
However interest portion on such loan is eligible for deduction u/s 24(b) with the maximum limit of Rs. 150000 in case of self occupied property during the year and unlimited in case of rented property during the year.
OM SAI SRI SAI JAI JAI SAI
However interest portion on such loan is eligible for deduction u/s 24(b) with the maximum limit of Rs. 150000 in case of self occupied property during the year and unlimited in case of rented property during the year.
OM SAI SRI SAI JAI JAI SAI
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