Deduction u/s 80c

i think u can claim deduction u/s 80C for principal repayment and u can also claim deduction u/s 24B for interest payment if any made to the promoter or anyone.... But u can claim deduction only if u had taken housing loan and amount paid is in nature of pre payment of hosing loan.......

Originally posted by : ARUNA KUMAR MISHRA
	I have booked a new flat for which I have made installment payment of 20% directly to the promotor.Can I claim this amount as deduction u/s 80C upto Rs180000/- for A.Y 2012-13. As per section 80C sub clause (xviii)   For the purpose of purchase or construction of residential house property the income of which is chargeable head "Income from house property....where such payments made towards or by way of (a) any instalment or part payment of any amount due under any self financing or other scheme of any development authority,housing board or other authority engaged in construction and sale of house property on ownership basis.

as the property is under construction and its not a property as described for "income from house property" hence the deduction is not available.

There is no clause whether the house  is in letable condition or not  then the question come -under construction or complete flat.What the section mean the house the income of which is chargeable under house property .

if the subject property is "earning taxable income"...........thats the clause, establish the same and get benefit

Sorry u interpreting wrongly. U can take the benifit of 80C only when u pay the principal amount of any housing loan. You have not specified how u pay the installment. But if u r purchasing the house prpoerty by loan then u definately claim the amount paid towards principal u/s 80c

i think u can claim deduction u/s 80C for principal repayment and u can also claim deduction u/s 24B for interest payment if any made to the promoter or anyone.... But u can claim deduction only if u had taken housing loan and amount paid is in nature of pre payment of hosing loan.......

correct...

Exactly what Praveen said was correct.....Without taking the loan from financial instituions it is not possible to claim U/S 80C.....

You Could Not claim REPAYMENT OF LOAN u/s 80c as  u has to paid PROMOTER but not to OTHER AUTHORITY ENGAGED IN CONSTRUCTION OR BUILDER......