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House Loan Principal Amount
My House Loan Principal Amount Paid for 2017-18 is Rs.200000/.So,how much deduction can be claimed u/s-80C?(LIC Premium paid-Rs.25000/)
Replies (6)
Under section 80C aggregate of all such deductions......... Rs. 1.50 lakhs. (including LIC premium)
For interest deduction 2 lakhs u/s. 24(b) and .....additional interest Rs. 50K u/s. 80EE (if applicable) .....
Yes... I agreed to Mr Dhirajlal Rambhia Sir...
U/s 80C Rs 1.50 Lakhs is available for deduction. Both (Lic & HL principal) are under same sec (80C).
And You can avail u/s 80EE if applicable...
U/s 80C Rs 1.50 Lakhs is available for deduction. Both (Lic & HL principal) are under same sec (80C).
And You can avail u/s 80EE if applicable...
Yes... I agreed to Mr Dhirajlal Rambhia Sir...
You can take deduction of principle amount paid u/s 80c upto maximum 1.5 lacs. Additionally you can also take deduction of the INTEREST portion of your loan repayment U/S 24B of house property.
under 80EE you can claim only interest paid towards home loan and principal repayment cannot be claimed
Hi Dipam,
For the FY 2017-18 (AY 2018-19), the maximum deduction that can be claimed under section 80C is Rs. 1,50,000.
Hence you can claim the maximum deduction of Rs. 1,50,000 as against Rs. 2,25,000 actually incurred by you.
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