Does Home loan prepayment come under 80 c exemption

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  1. npchavda

    npchavda New Member

    I would like to prepay some big chunk of my Home loan and want to know weather it comes under 80c or not ?
  2. Karan Batra

    Karan Batra Well-Known Member

    Yes, you would be able to claim tax deduction for the amount repaid.

    The deduction for prepayment would be the same as deduction for repayment of home loan on EMI's.

    The limit for deduction would also be the same.

    Kindly refer this article for the deduction which would be allowed -
    npchavda likes this.
  3. npchavda

    npchavda New Member

    Thanks Karan for your reply.,
    So the repayment exemption limit would be the same as principal i.e. 1,50,000.??

  4. Manoj Borah

    Manoj Borah New Member

    Sir, it is come to know that home loan principal comes under 80 C , but home loan interest comes under 80EE. This year 2016-17 not showing 80EE in ITR-I . Why ?

    Pl. suggest
  5. Karan Batra

    Karan Batra Well-Known Member

    Yes, your interpretation is correct. The max deduction allowed to you would be limited to Rs. 1.5 Lakhs only
  6. npchavda

    npchavda New Member

    Thanks Karan,

    Info is useful...

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