housing loan interest

If there is possibility then we can claim interest part U/s 24 and principal part u/s 80C

yes we can claim 

***if it is self occupied property, then amount of permissible deducton p.a 30000

however if following conditions are satisfied, the amount of permissible deduction is 150000

1.if  loan is taken on or after 1/4/1999

2.loan is taken for purpose of purchase , aquisition , construction of house property

***if it is let out property , then there is no limit to deductable amount

u can claim intt. under the head income from house property u/s 24b & principal part u/s 80c

ya u can claim both 24 and 80C

YOU CAN CLAIM BOTH INTEREST AND PRINCIPAL PAYMENT

Read this, hope it helps.

https://www.incometaxindia.gov.in/publications/5_house_property/5_house_property.asp

Moreover, if you are living in this property, then you can either avail HRA benefit or Home loan benefit as part of Sec 80c. As part of Sec 24, you may avail upto maximum of 1.5 Lac deduction.

In case you rent-out this property to someone else, then the upper limit of 1.5 Lacs vanishes !! But then you need to add rental income to your income for that year and deduct the interest paid on home loan + 30% of the annual rent you earned as part of fixed expenditure.

Cheers,

Sachin

yes its deductable under section 24 & 80C just follow on

YES YOU CAN...
 

INT. ON HOUSING LOAN IS DEDUCTIBLE U/S 24 (a) if it is self occupied to the extenet of max. 150000. & U/S 24(b) for let out prop., without any limit .

A PROVISIONAL CERTIFICATE FOR INTREST BIFURCATION CAN BE TAKEN FROM THE BANK TO CLAIM DEDUTION.

EMI (exclusive of int ) ELIGIBLE FOR DEDUCTION U/S 80C .

Yeah Sure...We can Claim

You can claim interest paid under head house property and pincipal u/s 80C.

thank you very much for all.