Personal sbi loan

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97 Points Posted on 09 July 2020
I have taken a personal loan from SBI. my query is that, can I claim the principle amount in saving 80C or not, please advice
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On 09 July 2020 at 17:19 Report
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This discussion clarifies whether the principal amount of a personal loan taken from SBI can be claimed under Section 80C of the Income Tax Act. The consensus is that personal loan principal amounts are not eligible for deduction under Section 80C, which covers specific investments like LIC premiums, provident fund contributions, and certain equity shares.

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155 Points Posted on 09 July 2020
Under section 80c provides deduction relates to Lic premia, deferred annuity, contribution to provident fund, subscripttion to certain equity shares or debentures etc. principal amount of personal loan cannot be deducted.
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On 09 July 2020 at 22:57
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177 Points Posted on 09 July 2020
No, you can't opt deduction in your case.
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On 09 July 2020 at 23:45
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2 Points Posted on 10 July 2020
No,You cant opt
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On 10 July 2020 at 10:38

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