Purchase new House & loan borrow from bank so housing loan installment & interest both are tax free or not.
Menu
Purchase new house
Replies (4)
interest will be allowed under the head house property
and repayment of loan will be under deduction
agree with above reply
yes, u get deducton............
Interest on housing loan will be allowed as a deduction under house property subject to a limit of Rs. 1.5 lakhs in case of self occupied property and in case of letout property entire amount of interest can be claimed as a deduction. Principal amount can be claimed deduction under section 80C subject to an overall limit of Rs. 1 lakh.
Recent Topics :
- Difference between AIS and 26AS data.
- Applicability of FCRA to Article Processing Fees (
- GST Return
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
Related Topics :
CAclubindia
