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house loan emi exapted
sir I am purchase one house and take a laon for some of years so every end of the year I am exampted emi 24B principal and 80C interest but if I am paid all the amount before during period mean before end of the year then am I take benefits exampted or not. becoz some account and say current year emi not exampted. ex. 2500000. 1-04-2016. and emi is 20000. mean I have paid 20000*12 240000. after end of the year example I am paid totally amount and clear loan before end of the year 30/08/2017.
Replies (1)
The amount of deduction will be the amount of principal and interest paid upto max limit in section 24 (interest on loan) & section 80C (principal on loan) even tough you prepaid full amount. Deduction will be available on payment basis.
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