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Section 80C (Housing Loan Instalments)

This query is : Resolved 
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Guest

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Guest (Querist)
05 November 2008 Dear Experts

U/s. 80C housing loan principal repayment is allowed as deduction from income subject to limit of Rs. 1 Lac.

My total principal Repayment comes to Rs. 45000/- and total Investment u/s. 80C is Rs. 60000/- inclg above 45000/-

Now i can invest 35K more and get dudcution u/s. 80C of Max Rs. 1Lac.

So if i repay the principal amount of housing loan for Rs. 35K/- then whehter it will be allowed as deduction u/s. 80C within the limit of Rs. 1Lac.????

Thanks

Rohit
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
05 November 2008 Are you saying additional repayment?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
06 November 2008 Yes, it is allowable
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Guest

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Guest (Querist)
06 November 2008 yes additional repayment than scheduled one by the bank.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
06 November 2008 It is no doubt allowable.
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Guest

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Guest (Querist)
08 November 2008 thanks
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