Saving income tax under section 80 e
This query is : Resolved
15 January 2016
Hi Sir,
If i had taken a loan of Rs 3,75000 in year 2007 , when i started paying installments around November 2012 amount became around 5.7 Lakhs(Capital+Interest).I kept on paying installments of Rs 10700 every month afterwards(Interest of Rs 5000+ keep adding to loan amount) .In year 2015 I paid around 5 Lakh and closed the account , I want to take tax benefit for year 2015 .
How much tax benefit I can claim in year 2015
1)Only the Interest amount added to Loan Account in this year
OR
2)I can claim more as i paid all interest amount that is mounting over the years to loan account.
If i had taken a loan of Rs 3,75000 in year 2007 , when i started paying installments around November 2012 amount became around 5.7 Lakhs(Capital+Interest).I kept on paying installments of Rs 10700 every month afterwards(Interest of Rs 5000+ keep adding to loan amount) .In year 2015 I paid around 5 Lakh and closed the account , I want to take tax benefit for year 2015 .
How much tax benefit I can claim in year 2015
1)Only the Interest amount added to Loan Account in this year
OR
2)I can claim more as i paid all interest amount that is mounting over the years to loan account.
16 January 2016
You can claim only the interest part which is paid in Ay 2015-16
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