I have transfer my home loan around October-2018 from Axis Bank to SBI bank. How much amount I can clain U/s 80C. as AXIS bank home loan certificate shows total principal repayment of 24 lakh and 1 lakh interet. This 24 lakh includes 1 lakh I have paid through EMI from April to October and 23 lakh paid by SBI. How much amount I can claim U/s 80C. 1 lakh I have paid or 1.5 lakh (24 lakh paid but maximum 1.5 lakh)
Menu
Home loan repayment deduction
Replies (8)
Deduction u/s 80C - Principal Payment = 1,50,000
Deduction u/s 24 - Interest Portion
Deduction u/s 24 - Interest Portion
both you and your wife can claim rs. 150000 each under 80C and 200000 each (if it's sop) under 24(b) , entire interest portion subject to the limit of rs. 200000 each (if it's lop) which is allowed to be carried forward to next year
| Originally posted by : RAMAKRISHNAN R | ||
 |
both you and your wife can claim rs. 150000 each under 80C and 200000 each (if it's sop) under 24(b) , entire interest portion subject to the limit of rs. 200000 each (if it's lop) which is allowed to be carried forward to next year Dear sir, I have transfer my loan in september-2018. At that time total amount outstanding was 23 lakh. Now SBI gave me check of 23 lakh and I paid the loan. Now I got interest certificate from Axis bank for 2018-2019. It includes principal repayment of Rs. 24,12,500/- (which includes 23 lakh paid by SBI and and 1,12,500 paid by me as a part of EMI from April-2018 till I close the loan in September). Now how much principal repayment I can claim U/s 80C. Rs. 1,12,500 which I have paid or Rs. 1,50,000. Please advise. |
 |
Dear sir, I have transfer my loan in september-2018. At that time total amount outstanding was 23 lakh. Now SBI gave me check of 23 lakh and I paid the loan. Now I got interest certificate from Axis bank for 2018-2019. It includes principal repayment of Rs. 24,12,500/- (which includes 23 lakh paid by SBI and and 1,12,500 paid by me as a part of EMI from April-2018 till I close the loan in September). Now how much principal repayment I can claim U/s 80C. Rs. 1,12,500 which I have paid or Rs. 1,50,000. Please advise.
Dear sir, I have transfer my loan in september-2018. At that time total amount outstanding was 23 lakh. Now SBI gave me check of 23 lakh and I paid the loan. Now I got interest certificate from Axis bank for 2018-2019. It includes principal repayment of Rs. 24,12,500/- (which includes 23 lakh paid by SBI and and 1,12,500 paid by me as a part of EMI from April-2018 till I close the loan in September). Now how much principal repayment I can claim U/s 80C. Rs. 1,12,500 which I have paid or Rs. 1,50,000. Please advise.
You can claim deduction of principal amount of repayment of loan, actually paid by you (Maximum 1,50,000.00)
Calculate on basis of EMI paid by you, not consider SBI Cheque of Rs. 23 Lac
Calculate on basis of EMI paid by you, not consider SBI Cheque of Rs. 23 Lac
Only Principal part repaid by you from the total EMI of 1 lakhs, can be claimed u/s. 80C.
can't the home loan deduction claimed as self occupied property under hp head
Recent Threads
- Sale of Mutual fund by NRI
- Why Should Businesses Prioritize SEO?
- Pagdi Room Deposit can be taken as Initial Payment
- Capital gain on Property trf through DanPatra
- Schedule SI is not showing correct tax calculation
- ITR2 AY25-26 new taxregime for salaried employee
- Error mesage in ITR3
- Gst in Turnover
- GST Tax invoice Govt.agency
- CAN ICAI EXAMINER'S REMUNERATION BE TAXED U/S 44AD
Related Threads
CAclubindia
