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Income Tax Rebate-Principle repayment

Tax planning 1321 views 4 replies

Hi!

I have a self-occupied flat since last three years. My housing loan was from ICICI bank. I withdrew Rs. 1.50 lakh from my EPF account for repayment of housing loan and repaid Rs. 1.75 lakh. Balance loan amount got tranferred to Indian Bank.

My question is wether i will be able to claim tax rebate on the entire amount of repayment of housing loan of Rs. 1.75 lakh or otherwise. Please guide.

 

Replies (4)

Yes u can calaim till Rs. 150000/-

Thanks

principal payment -deduction u/s 80c max upto rs.100000

interest payment under houseproperty

self occupied house --- rental income nil

deduct dedeuction u/s 24 interest on loan

what kind of rebates are avilable for children's education? What about hostal fees, in case staying in private hostal? Tution fees, I persume, are exempted for Unversity education.

Regards

You will get more information on tuition fees, educational loans,etc.

at https://www.payit.in. You can calculate your income tax at https://www.payit.in


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