whether cost of contruction incurred from own money ( Not from borrowed fund ) is eligible for deduction for Sec 80C?
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Cost of residential house from own fund is eligible for80 c
Replies (4)
Under 80 C repayment of Housing loan is allowed as deduction not the amount used from our own sources. So no 80c deduction in your case.
In such cases only stampt duty, registration fees and other expenses for the purpose of transfer of such house property to the assessee if any are eligible for deduction under section 80C (2) (xviii) (d)
No cost incurred from own funds are not allowed as deduction. Only the amount such as registration fees etc are allowed.
| Originally posted by : Saket Sinha | ||
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No cost incurred from own funds are not allowed as deduction. Only the amount such as registration fees etc are allowed. |
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