Section 80C Deduction for Down payment for Property

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  1. P Sarkar

    P Sarkar New Member

    If a person bought an under construction property in FY 2014~15, say for example, total cost of the property 35 lacs, He paid the builder 5 lacs through chaque and rest 30 lacs taken as loan. Now can the person claim 80C deduction for the 5 lacs he has paid?
  2. Neha Sharma

    Neha Sharma Active Member

    No, 80C Deduction cannot be claimed for down payment of Rs. 5 Lakhs made by you.

    80C Deduction can be claimed for Repayment of the Principal Amount of Home Loan and not for the Down payment amount
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