Dear All,
Can exemption be claimed u/s 80C for the amount paid for booking/purchase of builder flat?
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Can exemption be claimed for purchase of house?
Replies (3)
yes if it is for residential purpose
Source of amount should be Established first
House has to be self occupied
1.5 lakh is maximum eligibility
House has to be self occupied
1.5 lakh is maximum eligibility
No, you can't claim deduction u/s 80C for purchase of building/flat, if purchased out of own fund, however, deduction of principal amount can be claimed, if purchased by taking Loan from Bank, u/s 80C subject to satisfaction of other conditions too.
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