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Deduction under 80c
Hello Experts,
Can we claim deduction under sec 80C regarding the payment of principal portion of housing loan even if the construction of house is not completed.
Replies (11)
You may read the sec 80C itself. It is self explanatory.
Hi,
Deduction under section 80C for repayment of house loan paid in a previous year can only be claimed if construction of the house is completed before the end of previous year.
Hello,
Tax benefit of home loan under section 80C for repayment of principal part of the home loan is allowed only after the construction is complete and the completion certificate has been awarded. No deduction would be allowed under this section for repayment of principal for those years during which the property was under construction
Principal paid before completion certificate can be claim after obtaining cert. just like interest in 5 instalments
Principal paid before completion certificate can be claim after obtaining cert. just like interest in 5 instalments
Principal paid before completion certificate can be claim after obtaining cert. just like interest in 5 instalments
Agreed with Mr. Dkumar
Not agree with Rishikesh & Dkumar...
Principal component of your EMIs paid during prior period is not eligible for any tax deduction.
No 'after completing construction if even u pay then u will deducted the principal amt upto 150000'
No ' if even u pay principle amt before construction because at that time income under head HP was not be generate' but after completing the construction if even u pay principle amt then u will be deducted the amt upto 150000' Thanku
No ' if even u pay principle amt before construction because at that time income under head HP was not be generate' but after completing the construction if even u pay principle amt then u will be deducted the amt upto 150000' Thanku
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