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
From India, Mumbai
Administration & Liaisoning Head
Ir & Contract Labour Management
+1 Other

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
From India, Dhanbad
Hi, Can any one know how to deduct amount for Principal & interest on Housing Loan under IT.
From India, Madras
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.

From India, Gurgaon
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.

From India, Lucknow
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.

From India, Madras

Attached Files (Download Requires Membership)
File Type: doc Income Tax treatment of Principal Repayment.doc (32.0 KB, 124 views)

Dear Bharathi, you need to go to this weblink FAQs: Income tax & home loans for your complete solution
From India, Gurgaon
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
From India, Lucknow

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views.

Add Reply → Start New →

About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHR®

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server