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Section 80C deductions for NRI

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This query is : Resolved

Rajat (Querist)

05 September 2008 If the assessee is an NRI and US resident and has taxable income in India then how much exact(in Rs) deductions can he claim u/s 80C-80D for following items:

1. Paid US$ 200 for life insurance on 25/6/07 to US insurance co

2. Paid US$ 100 for medi claim on 20/09/07 to US insurance co.

3. Deposited US$ 1500 as 5 yr FD in US bank on 10/01/08

4. Repaid housing loan principal amount US$ 1250 to US housing finance co. Loan is taken for self occupied flat in US only. Will he be allowed to show this flat under income from House property and claim interest deductions as well u/s 24b

CA.PRAMOD KUMAR PANDA

CA.PRAMOD KUMAR PANDA (Expert)

11 September 2008 He is not eligible to claim any deductions U/s 80C-80D for the amount of savings made or for the repayment of housing loan in USA against the Income accuring in India, since such savings are not out of income earned in India.

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