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If a person fails to make EMI payments on his home loan, can he claim tax benefits on the interest payable, under Section 24 and deduction under Section 80C of the Income Tax Act?

April 26, 2017Benefits claim EMI fails home loan PAYMENTS person tax

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If a person fails to make EMI payments on his home loan, can he claim tax benefits on the interest payable, under Section 24 and deduction under Section 80C of the Income Tax Act?

1 Answer

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10 Posted

Tax benefits under Section 24 and deduction under section 80C of the Income Tax Act can be claimed only when the payment is made. If a person fails to make EMI payments, he cannot claim tax benefits for the same.