Tax Deduction on part Pre-payment of Home Loan

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  1. Avdhehs

    Avdhehs New Member

    Hi All,

    Just wanted to know that apart from the Principal Component specified in provisional statement that Housing Loan company provides, If i make additional partial repayment of Principal can that be claimed under 80C.

    For e.g.
    as per the provisional Statement on an EMI of 15,000 pm
    Principal Amt: 30,000 INR
    Interest Paid: 1,50,000 INR

    If i repay 1L additional principlal considering my 80C is not exhausted, can I claim it for tax rebate?

    If not under 80C, is there other section to claim the tax rebate or it is not possible completely.

  2. CA Umesh Agarwal

    CA Umesh Agarwal New Member

    Dear Avdhesh,
    You will be eligible to claim 80C deduction for the amount of prepayment of hom loan.

    CA Umesh Agarwal
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