Hello,
Please confirm whether principal repayment as a part of Full EMI is available as deduction Us 80C of IT act.
I underatand condition of completion of construction is required for claiming interest portion of EMI Us 24, however is same condition required for 80c deduction as well for principal portion?
Thanks in advance.
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Deduction Us 80C for underconstruction properry
Replies (4)
Quick Summary
Principal portion is not eligible.
However interest during construction can be claimed in 5 equal installments from the date of completion of construction
However interest during construction can be claimed in 5 equal installments from the date of completion of construction
Wrong heading . mention interest on home loan.
Hi, actually the query is on deduction for principal amt hence correct section mentioned. if i had query on interest would have been wrong then. pls revert with opinion
Principal repayment is not eligible for under construction property.
If the house exists and if you are staying or let out then only principal or interest can be claimed.
Hence principal paid during house construction is ineligible/ lapsed without any tax benefits
If the house exists and if you are staying or let out then only principal or interest can be claimed.
Hence principal paid during house construction is ineligible/ lapsed without any tax benefits
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