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Deduction of interest payment and principle payment of housing loan


Palash Jain   20 January 2020

Palash Jain

 2 points

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i have one house property I want to purchase another one by taking a loan can i claim deduction of interest and principle amount?
instead of having one house property

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rama krishnan   21 January 2020

rama krishnan

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Yes you can... there's no bar

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RAJA P M ("Do the Right Thing...!!!")     21 January 2020

RAJA P M
"Do the Right Thing...!!!" 
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Yes... You can claim deduction in ITR for interest and principle...

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manikanta nkk   21 January 2020

manikanta nkk

 18 points

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Yes u can claim deduction in itr interest amount in house property income and principle amount in 80c

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Avtar Singh   21 January 2020

Avtar Singh

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Very write

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CA Arun Tiwari (Partner)     23 January 2020

CA Arun Tiwari
Partner 
 31 likes  855 points

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Yes, you can claim the deduction of principal repayment up to Rs. 1.5 lakhs under section 80C and deduction of interest under section 24B upto Rs. 2 lakhs if you have already own one house.


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