Calculate Company Home Loan Tax Rebate On Principal Or Interest - Help Please - CiteHR
Anil.arora
Administration Head
JAWEDALAM
Ir & Contract Labour Management
Pon1965
Construction
+1 Other

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Dear All, If a company provides housing loan to its employee can the employee claim tax exemption under Sec 80C for the principal amount and on interest??? Please advice Regards, Komal
Dear Komal the answer is Yes. You can claim tax exemption under 80 C of the Income tax Act for both Principal & interest on Housing Loan provided by your company. Regards. Jawed Alam
Hi, Can any one know how to deduct amount for Principal & interest on Housing Loan under IT.
Hi Komal,
Agree with Mr. Jawed, definitely one can claim. Housing Loan is House Loan it Doesn’t matter who are giving or whom one have got HOUSING LOAN and there is nothing in our Income Tax Rules like one cant claim if he/she has been provide Loan by Employer. Employer have to take their own action how they can manage but for an individual, there is no problem in claiming..
Second Bharathi, I want you to go to the official website of Income tax Department for everything about IT rules and other. Before knowing by other, you must go to their which is the best option that we are getting by IT Department.

The Housing loan interest component will be deducted from the gross salary under section 24 subject to a ceiling of 150,000/- in a FY. The principal component will be counted under section 80C for a max. of 100,000.
Pon

Thanks for your comments.
I'm having the rules for IT deduction under Housing loan.
Rules says Pre - EMI will not be claimed now, it can be claimed only after the acquisition of house.
But my concern is, Our employee is paying Pre - EMI. His full amount will be disbursed within four months.
After that he will be paying EMI. Now, I don't know, how to proceed.
Can you pls guide me.


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Dear Bharathi, you need to go to this weblink FAQs: Income tax & home loans for your complete solution
Possession letter from the builder is required for claiming tax benefits. However, the pre-EMI & interest will be shown in the statement of loan provider once the EMI starts. Pon
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