if an assessee took a housing loan and doesn't invested any amount in property or doesn't fulfill the purpose defined under section 24 i.e. Purchase/ Construction/ Repair/ Renewal/ Reconstruction of a Residential House Property. Then assessee can claim the deduction u/s 24(interest amount) or 80C (principal amount or not?
The important thing is that how one can take loan from financial institution/banks without submitting any documentation proofs. And if he has taken house loan but there is no purchase/reconstruction/repair/renewal of house, no claim u/s 80C or u/s 24b can be availed.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
