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?
Dintakurthi Tirumala
(Expert)
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
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
- Oct 2025 Invoices
- Under marginal scheme
- Import of Software Service.
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- GST on Renting godown to KFCSC for Storage of Raagi
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
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
