Hi, My question is for income tax rebate for home loan in financial year 2017-2018 (Assessment year 2018-2019). I purchased a flat (in resale, originally sold 15 years back) in April, 2017. Home loan was sanctioned in Feb, 2017 but my repayment of loan started in April, 2017 after purchasing and getting possession. Flat was purchased in name of me and my wife but it is only me who is paying EMIs. At present we are living in this flat and this is our first time purchased home. During year 2017-2018 for loan repayment, I will pay Rs. 2,28,702 as interest component and Rs. 51,522 as principal component. Now my questions are, 1. Can I claim deduction for Rs. 2,00,000 (from interest component) under section 24? 2. Can I claim deduction for Rs. 28,702 (from interest component) under section 80EE? 3. Can I claim deduction for Rs. 51,522 (from principal component) under section 80C? Please advise.
Jan. 05, 2018
