Housing loan

Tax planning 616 views 3 replies

If we repay housing loan amount before dues, (Eg. as on date balance is Rs. 1.30 L which we have to pay in next 6 years, but close today by paying 1.30 L) can we claim this principle amount u/s 80C

Replies (3)

Yes, as per sec. 80C the prepayment of housing Loan is also allowed as dedcution for the assessment relevant to the previous year in which you have made prepayment (i.e. forclosure of loan). However, the maximum deduction is limited to Rs .1 lac only which is sec. 80C max. limit.

Therefore, In your case Rs. 30 thousand wil not be allowed as deduction u/s 80C.

 

Thanks.

yes it should be allowed 

agree with above


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details