Two loans availed for same property for construction

sasi dass (Audit Asst) (51 Points)

24 March 2016

Sir

kindly high light for tax planning for Interest as well as for 80 c deduction

sasi

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manoj (student) (5205 Points)
Replied 24 March 2016

Please elaborate your quarry in more systematic way

sasi dass (Audit Asst) (51 Points)
Replied 25 March 2016

Sir

my staff received the following Housing loan on various day for construction of one house his use and got Loan certificate on following basis.

S.No Purpose of Loan Amount of loan Prinpal Amount Interest Date of Sanction of Loan

1 Construction of house 35 lakhs 0.90 lakhs 1.37 lakhs 13.04.12

2 Construction of house 10 lakhs 0.30 lakhs 0.65 lakhs 13.02.13

3 Construction of house 5 lakhs 0.20 lakhs 0.35 lakhs 13.07.13

4 Construction of house 5 lakhs 0.25 lakhs 0.36 lakhs 13.03.14

Pleae tell How Much Interest & Principal Amount is Eligible for Deduction under section 24(b) And 80C

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