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of <h1>RBI Circular: Ensuring Compliance with Tax Deduction Rules u/s 80C for Housing Loan Repayments.</h1> The circular addresses the tax deduction eligibility under Section 80C of the Income-tax Act, 1961, for the repayment of loans taken for purchasing or constructing houses or flats. Issued by the Reserve Bank of India, it instructs authorized dealers in foreign exchange to ensure compliance with the provisions. The circular emphasizes the need for officers to verify the long-term capital gains calculations by these dealers. It mandates that the contents of the circular be communicated to all relevant officers to facilitate accurate assessment and compliance with the tax provisions.
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