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Home Loan Tax Deduction Guide

Mr. Sanaboina Venkata Ramana was granted a home loan of Rs. 40,00,000 at 8.7% annual interest by HDFC for a property in Keesara Mandal, Hyderabad. The total EMIs to be paid from April 2019 to March 2020 is Rs. 2,11,326, comprising principal of Rs. 38,009 and interest of Rs. 1,73,317. Interest on the loan up to March 2020 is eligible for deduction under Section 24(b) of the Income Tax Act and principal repayments through EMIs or prepayments are eligible for deduction under Section 80C if actually paid by March 2020.

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686 views1 page

Home Loan Tax Deduction Guide

Mr. Sanaboina Venkata Ramana was granted a home loan of Rs. 40,00,000 at 8.7% annual interest by HDFC for a property in Keesara Mandal, Hyderabad. The total EMIs to be paid from April 2019 to March 2020 is Rs. 2,11,326, comprising principal of Rs. 38,009 and interest of Rs. 1,73,317. Interest on the loan up to March 2020 is eligible for deduction under Section 24(b) of the Income Tax Act and principal repayments through EMIs or prepayments are eligible for deduction under Section 80C if actually paid by March 2020.

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kalyan
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© © All Rights Reserved
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Date : 27/09/2019 TO WHOMSOEVER IT MAY CONCERN

----------------------------
TYPE : 571- RESIDENT HOME LOAN-VARIABLE RATE-MONTHLY RES ()

PROVISIONAL STATEMENT for claiming deduction under Sections 24(b) & 80C
of the INCOME-TAX ACT,1961 for the period 01/04/2019 to 31/03/2020

This is to certify that MR SANABOINA VENKATA RAMANA


(Loan account number 642627534) has/have been granted a HOUSING LOAN
of Rs. 40,00,000 @8.70% per annum in respect of the following property :
PLOT 47 W/P & 48 E/P,S NO 409,410,HOUSE 7-87/47-48P,TALUKA,
KEESARA MANDAL,COLONY SRI,SWAMY AYYAPPA PHASE-3,TEHSIL,DAMMAIGUDA H/O,VILLA

The above loan is REPAYABLE in Equated Monthly Instalments (EMIs) comprising


Principal and Interest. The total amount of EMIs payable from 01/04/2019 to
31/03/2020 is Rs. 2,11,326.00. The break-up of the amount into Principal and
Interest is given below :

PRINCIPAL COMPONENT Rs. 38,009.00


INTEREST COMPONENT Rs. 1,73,317.00
PRE-EMI INTEREST Rs. 19,340.00

NOTES :
1.Interest is calculated on monthly rests. Principal repayments are
credited at the end of each month.
2.Interest and Principal figures are subject to change in case of
prepayment/s and/or change in repayment schedule.
3.Principal repayments through EMIs and/or Prepayments qualify for deduction
under Section 80C,if the amounts are ACTUALLY PAID by 31/03/2020.
4.Deduction under Section 80C can be claimed only if :
(i) The repayment of the loan is made out of income chargeable to tax and
(ii) The property for which the loan is taken is not transferred
before the expiry of 5 years from the end of the financial year in
which the possession of such property is obtained.
THESE CONDITIONS HAVE NOT BEEN VERIFIED BY HDFC.
5.Interest payable on the loan ( including Pre-EMI Interest, if any )
is allowed as a deduction under Section 24(b).
THIS STATEMENT BEING PROVISIONAL IN NATURE REQUIRES NO AUTHORISATION FROM HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED (PAN: AAACH0997E)

642627534
MR SANABOINA VENKATA RAMANA
FLAT - 302,
MEDHA MERIDIAN APARTMENTS,
SHILPA NAGAR, NAGARAM,
KEESARA MANDAL, HYDERABAD-AP-500083

Regd. Office: Ramon House, H T Parekh Marg, 169, Backbay Reclamation, Churchgate, Mumbai 400 020.
Tel: 66316000, 22820282. Fax: 022-22811205, 22046834, 22046758.,CIN: L70100MH1977PLC019916

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