I had taken a home loan of 24 lakhs in FY 16-17 and in this FY 2017-2018 i had prepaid the home loan principal of 1.2lakhs and my FY 17-18 interest is Rs 69176/- and Principal Amount is Rs 192736 ( EMI). Should this amount 1.2lakhs and 70 thousand(approx) can be claim under 80C as a home loan pricipal deduction. Or only 70 Thousand deduction be allowed.Please clarify.
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Prepayment of principal amount of home loan 80c
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You claim housing loan principle amount in 80C & Housing loan interest in Income from house property set off the loss in house property (section 24(b)).
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