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        Case ID :
        Income Tax

        Whether section 80C allows deduction on re payment of housing loan?

        21 May, 2018

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        Manual - Deduction u/s 80C - Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund etc.

        Yes. Any payment towards the cost of purchase/ construction of a new residential property is eligible for deduction under section 80C. This includes repayment of the principal amount of loan. Interest payment on such loan taken on house purpose is not eligible for deduction under this section. 

         

        Deduction under section 80C: repayment of principal on housing loan qualifies, interest payments do not. Payments toward the cost of purchase or construction of a new residential property qualify for deduction under the provision and expressly include repayment of the principal amount of a housing loan; interest paid on such a housing loan is not eligible for deduction under the same provision.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Deduction under section 80C: repayment of principal on housing loan qualifies, interest payments do not.

                              Payments toward the cost of purchase or construction of a new residential property qualify for deduction under the provision and expressly include repayment of the principal amount of a housing loan; interest paid on such a housing loan is not eligible for deduction under the same provision.


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