80 c loan payment

Dear Rahul,

Ya brother, condition is there............

Mr.Rahul

Yes there is a condition to hold house for 5 yrs to claim principal ded...

Yes, such a condition is there, but no one observes practically. It is given in 80C(5).

You should

(a) hold the house for 5 consecutive years from the end of the previous year in which possession of the property is given to u, and

(b) you must not receive back any money which you have paid and claimed deduction under 80C towards principal of HL .....

or in the PY in which either condition is violated,

(a) the aggregate deduction allowed to you will be added back as your income and

(b) no deduction wil be allowed to you in respect of the principal during the PY

Dear G.K.,

Thanks, I should modify my earlier post to avoid confusion............. 

Thanks to Mr.G.K.

i didn't notice this brother....once again thank you...

Nice post GK....