can we give home loan repayment deduction on prorata basis t

Hi All,

Our one employee is resigning from our company. I need you help in tax calculation of the employee.

He is paying home loan approx 25K/month. Now the question is:-

-can we give home loan repayment deduction U/s 80C on prorate basis.

-Or we cannot give the deduction but his new employee will give this deduction. and I will deduct the tax without considering the repayment amount?

-What documents should I take if we give the deduction from the employee??

Kindly advice.

Replies (2)

 

yes you can deduct u/s 80C home loan repayment on prorate basis when employee will file his ITR than he could show actual repayment of principal in ITR. And no need to take any documents. But please take all investment or loan detail of employee on plain paper.

Can you guys reply my query since I need this very urgently?

 

Thanks in advance for your valuable time..

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