Equity-linked savings scheme
- Any payment towards the cost of purchase/ construction of a new residential property is eligible for deduction under this section. This includes repayment of the principal amount of loan which taken from Government, banks, cooperative bank, LIC, National housing bank, Taxpayer’s employer where such employer is Public sector company/University/Cooperative society.
- Cost of purchase, Stamp duty charges, registration charges and other expenses for the purpose of transfer of such house property to the tax payer. Interest payment on such loan taken on house purpose is not eligible for deduction under this section. cost of repair, renovation of residential property not eligible for section 80C deduction.
- First, for deduction in respect to interest on home loan under section 24
- Secondly, deduction in respect to repayment of home loan under section 80C.