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.
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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 | ||
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Suppose if only provision for such interest in made in the books of accounts of the assessee?
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