CMA
13117 Points
Joined May 2009
1) Deduction up to Rs.1.5 lac can be claimed in FY20-21.
2) Interest for the year 20-21 will be taxable under IFOS
3) Yearly interest thereafter except for last year: Interest income taxable u/s IFOS and deduction available u/s 80C subject to the limit of Rs.1.5 lacs
4) For last year, interest is taxable u/s IFOS but no deduction u/s 80C