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
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From India, Mumbai
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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
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78From India, Dhanbad
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Hi, Can any one know how to deduct amount for Principal & interest on Housing Loan under IT.
From India, Madras
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From India, Madras
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The housing loan interest component will be deducted from the gross salary under section 24, subject to a ceiling of 150,000/- in a financial year. The principal component will be counted under section 80C for a maximum of 100,000.
Pon
From India, Lucknow
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Pon
From India, Lucknow
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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
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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
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Dear Bharathi, you need to go to this weblink FAQs: Income tax & home loans for your complete solution.
From India, Gurgaon
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From India, Gurgaon
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