Dear friend, I have read your pdf. about. Now my question:-
1. A per U/S – 80C home loan principal amount repayment can claim for deduction. Have it any limit or not ?
As you know the maximum amount of deduction under section 80C is Rs. 1,00,000/-, you can avail the entire deduction as repayment of Home Loan principal amount. There is no certain limit in this regard as the aforesaid section itself stands with some limitation.
I have seen in the ‘Saptahiki Bartaman” It will be maximum Rs. 30,000/-. Is it wrong?
I think so.
Principal can be claimed up to the maximum of Rs. 100,000 under Section 80C. This is subject to the maximum level of Rs 100,000 across all 80C investments.