House Property & 80 C Deduction

Sumit (CA Practice ) (675 Points)

10 May 2007  

Can you please answer my following queries at the earliest:-

1. Whether residential plot is coming under the word residential house property for the purpose of Sec.80C.

2. Can 2 different assessees purchase a residential house property jointly and claim deduction U/s 80C
    for a maximum amount of Rs.1,00,000/- each.

3. If a personal loan (not the Housing Loan)  is taken for purchase of residential house property, then whether in that case also.

4. If the initial deposit i.e. the booking amount is also coming u/s 80C.
    deduction u/s 80C is available for repayment of personal loan.

Hoping for quick and right answer for my queries from some expert person in taxation matters?

Thanks in advance.


Sumit Aggarwal