Section 80C (Housing Loan Instalments)
This query is : Resolved
Guest
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
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
05 November 2008
Are you saying additional repayment?
06 November 2008
Yes, it is allowable
Guest
Guest
(Querist)
06 November 2008
yes additional repayment than scheduled one by the bank.
06 November 2008
It is no doubt allowable.
Guest
Guest
(Querist)
08 November 2008
thanks
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
- Tax on Deemed Capital Gain
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Average Cost Of High Quality Diamonds
- ITR-3 File/Error Found
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Rental income of jointly held property
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
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
