for pre construction period can we take home loan repayment principle amt as deduction in that year when it is paid
or
when claming deduction for interest
in that year
ot
Not at all???
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Claim home loan principle
Replies (2)
You can claim deduction u/s 80C for repayment of loan in the year in which it is paid irrespective of whether it is pre acquisition or ready to move..
Home loans are approved subject to the following conditions :
1. 10% is maintained as cash reserve ratio
2. say a project of rs. 15 lacs .
bank or fii can approve loan upto 90% of the project cost subject to the cibil rating of the applicant.
3. the applicant can claim deduction under section 24 for 1nt. on home loans and enhanced deduction upto 2.67 lacs under pmay scheme.
interest subvention scheme.
1. 10% is maintained as cash reserve ratio
2. say a project of rs. 15 lacs .
bank or fii can approve loan upto 90% of the project cost subject to the cibil rating of the applicant.
3. the applicant can claim deduction under section 24 for 1nt. on home loans and enhanced deduction upto 2.67 lacs under pmay scheme.
interest subvention scheme.
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