CCI Online Learning
50% OFF in CA/CS/CMA Subjects

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Staff housing loan from private company 80c and 24(b)

Sivaraman.A.R (.)     27 March 2015

 32 likes  806 points

| My Other Post

An employee  got housing from employer(A Private company). Company gave a certificate showing interest and principal split. 80C is not allowed because of private company. Can interest be claimed u/s 24(b)?


Aditi Kaur (Practising CA)    28 March 2015

CCI Online Learning offers a library of courses for CA/CS/CMA Aspirants from the best faculties in India. Our top notch courses aim to make your journey from a student to a professional, a successful one. To promise a successful career as a professional CCI Online Learning also offers programs like Financial Modeling, MS Excel, IFRS/IND AS Certification Courses that will help you take your career to the next level. Check out the free demo videos here


Poornima Madhava (ACMA)     28 March 2015

Poornima Madhava
 513 likes  5579 points

View Profile | My Other Post

Yes interest is deductible u/s 24b

1 Like

Vishal Goel (Chartered Accountant)     28 March 2015

Vishal Goel
Chartered Accountant 
 144 likes  1688 points

View Profile | My Other Post

Under section 24, one can claim the interest payments for the home loans taken from his company subject to the condition that one must submit the interest payment certificate. Without the certificate, income tax department will not accept the tax claim.

There is no deduction allowed under section 80C for the principal repayment to your company. Only interest repayment can be claimed fro the tax deduction. As far as the principal payments are concerned, they would not qualify for tax benefit as loans only from notified institutions and banks are eligible for such deductions.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Threads


Popular Discussion

view more »

Trending Tags
GST Live Class    |    x