TMI BlogRepayment of loan etc. taken for the purchase/construction of houses/flats-Deduction admissible under section 80C of the Income-tax Act, 1961-RegardingX X X X Extracts X X X X X X X X Extracts X X X X ..... d 4/11/1987 To All State Governments (Including Administration of Union Territories) Sir, Subject: Repayment of loan etc. taken for the purchase/construction of houses/flats-Deduction admissible under section 80C of the Income-tax Act, 1961-Regarding. I am directed to refer to para. 4(viii)(e)(II) of this Department's Circular No. 489 (F. No. 275/51/87-ITB), ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... down therein. For the admissibility of this deduction, the construction of the house property should be completed after the 31st March, 1987, and the income from the same should be chargeable to tax under the head "income from house property" in the relevant assessment year. For the guidance of drawing and disbursing officers and other persons responsible for the payment of income chargeable unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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