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Whether section 80C allows deduction on re payment of housing loan?
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Manual - Deduction u/s 80C - Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund etc.

Yes. Any payment towards the cost of purchase/ construction of a new residential property is eligible for deduction under section 80C. This includes repayment of the principal amount of loan. Interest payment on such loan taken on house purpose is not eligible for deduction under this section. 

 

 

Dated: 21-5-2018

 

  1. Manual - Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund etc. - Section 80C
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