Principal Payment on Home Loans u/s 80C

Introduction

In this article I will be writing about the tax exemption for the home loans under section 80c. I will not write about the interest payment on home loans. That is not come under the section 80c. If you are the regular reader for this site, I have written many articles explaining the home loans and tax benefits. This article presents few quick tips for the principal payment for home loans. If you have any doubts, please post it in the comments section. Subscribe to our free email updates.

Principal Payment on Home Loans

The following are important facts about the principal payment on home loans:

1. There is maximum limit of Rs.100000 can be deducted for the principal repayment.
2. You can claim for more than one houses, but the maximum limit will be Rs.100000.
3. You can not claim the deduction, if the house is under construction. The money paid is lost for ever.
4. Registration charges and Stamp duty can be added to the home loans principal amount.
5. The loan must be taken from the financial institutions.

Summary

I hope this article would have helped you to gain basic knowledge on the principal part on home loans. If you are looking for more information, please read our home loans related articles. Thank you for reading this article!!!If you have any doubts, please post it in the comments section.

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