Section 80c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 May 2012 sir, i want to ask if a huf is purchasing a house in its own name and making payment in LUMPSUM AND NOT IN INSTALMENT whether then also he is able to get deduction in 80c?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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26 May 2012 The deduction will be available if the paymnet is towards REPAYMENT of amount BORROWED from a bank or other specified institutions.

If the house is self financed, then deduction is NOT available.

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