A person pays interest on Housing loans without regular intervals. The assessee is making ad hoc payments of such interests. I want to know whether such bulk payments of Interest paid during AY 12-13 for a housing Loan can be claimed as deductions u/s 80C in AY 12-13.
Menu
Deduction u/s. 80c
Replies (3)
If the interest paid is exhibited in the certificate issued by Bank/FI, then it is deductible even it is bulk/irregular in nature within the limit of 1.5L.
Regards,
You can claim Interest on accrual basis. U/s 24b.
Means even if the loan is repaid in irregualr manner still the yearly interest can be claimed.
.Section 80C deduction can also be claimed if principal amount has been repaid
| Originally posted by : CA Paras Bafna | ||
 |
Suppose if only provision for such interest in made in the books of accounts of the assessee?
|
 |
Recent Topic
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
- Return filing for intervening period upto date of
Related Topics
CAclubindia
