Repayment to National Housing Bank u/s 80 C

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Sir,

I wanted to confirm whether any payment( Principal) made during the year to National housing bank is eligible for a deduction u/s 80C.

Regards

Replies (10)

yes, eligible

Yes... Every Borrowing for Home Loan (Principal Part) is elegible for deduction u/s 80c

 

Yes eligible for deduction maximum 1 lac u/s 80c.

yes eligible for deduction u/ s80 C as repayment of Principal upto Rs. 100000/- and interest payment for self occupied house upto Rs. 150000/- and upto any amount for rented house, when you show in your IT returns income from house property.

yes - - - -- ---- - - --  -

agreed to all.......

yes eligible for deduction u/ s80 C as repayment of Principal upto Rs. 100000/- and interest payment for self occupied house upto Rs. 150000/- and upto any amount for rented house, when you show in your IT returns income from house property.

U/s Section 80 C u are eligible for claiming deduction of the amount of Repayment of only Principal Amount Subject to Max. Rs 1,00,000.00

And Interest Paid on Housing loan is deductable under Income from House Property.
If Self occupied Than Max Allowed 1,50,000.00

And for rented No specipic Limit 

yes buddy yu can take exemption for repayment of Principle amount.

SHAHBAZ,AS PER SECTION 80C,ANY REPAYMENT OF LOAN(PRINCIPAL) FOR CONSTRUCTION OR PURCHASE OF NEW RESIDENTIAL(NOT OLD,NOT COMMERCIAL)EVEN IT IS SELFOCCUPIED OR LETOUT FROM GOVT.APPROVED INSTITUTION OR ANY BODY SET UP UNDER THE ACT OF PARLIAMENT OR STATE OR NOTIFIED INSTITUTION QUALIFIES FOR DEDUCTION SUBJECT TO CEILING LIMIT OF RS.100000/-.AS U DIDNOT MENTION THE PURPOSE FOR LOAN,ASSUMING IT FALLS IN ABOVE CRITERIA,AND NHB BEING NOTIFIED INSTITUTION,WHOLLY OWNED SUBSIDIARY OF RBI,QUALIFIES FOR DEDUCTION OF PRINCIPAL PART IF ONLY ITS BRAND NEW CONSTRUCTION OR PURCHASE OF RESIDENTIAL HOUSE,EVEN IT IS S/O OR LETOUT.

CHECK THIS LINK FOR VERIYING IF NHB IS NOTIFIED INSTITUITION VIDE  IT DEPARTMENT ORDERS AT :

https://www.nhb.org.in/Press%20Release/New_Schemes_of_Resource_Mobilisation.php

I HOPE I ANSWERED UR QUERY.THANKS SHAHBAZ FOR POSTING SUCH QUERY,IT HELPED ME IMPROVE MY KNOWLEDGE BY RESEARCHING UPON IT. 


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