Is partial pre-payment of principle allowed as deduction under 80C? - Property Hotline
December 30, 2016
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1:34Now PlayingIs partial pre-payment of principle allowed as deduction under 80C? - Property Hotline
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as posted by the channelExpert: Harsh Roongta CEO, Apnapaisa.com, Home Finance Expert
Q: The principle returned as part of EMI is chargeable as a tax rebate against 80C. Is the principle returned as partial payment (outside of EMI) also chargeable to 80C for tax rebate?
A: Yes. Whether the principle repayment is from the principle portion of the EMI or whether it’s a partial or full pre-payment—it will be allowed as deduction under Section 80C, subject to the limits.
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