Deduction u/s 80c

Dear All,

I'm in a big confusion regarding Section 80C, Please help me through this.........

  1. Is it possible that I can claim deduction under Section 80C for repayment of Housing Loan, even my house is being Let-out?
  2. And, if I can claim the same, when my house is under construction..?

Both these cases are separate.

 

 

 

Replies (6)
U can claim deduction in both cases for principal amount u/s 80C

Agreed with  Manoj ..

You can claim the repayment of your Housing Loan Principal Amount u/s 80C irrespective of the fact whether it is self occupied or let out.

The same can be claimed even if it is under construction !!

In case 2 :Not allowed as deduction u/s 80C.
Repayment of principal part of the home loan is allowed only after the construction is complete.

I am sorry for the misunderstanding ..

As said by Mr. Vishal, deduction can be claimed only after construction is complete !!

Dear Saurab and Vishal,

Please make me clear about the provisions and if possible kindly quote the relevant lines of Section 80C, which specifies case no.2.

Sec 80C clearly states that deduction for repayment of principal amount of housing loan should only be allowed when the construction of house is completed and the assessee has been awarded the completion certificate.

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