Can I claim tax benefit on repayment of loan principal

[samkapoor77]

I have purchased an under construction flat in Dwarka, Delhi. For this flat, I have arranged finance from HDFC bank for Rs. 37 lakhs. Rest of the amount, I have managed somehow. Though I have still not received full loan amount of loan from bank, I am paying full EMI since day 1. I expect to get the possession of flat in next financial year. I want to ask, can I claim tax benefit on repayment of part of principal under section 80 C for current financial year.

[samkapoor77]

Yes, you can claim tax benefit on the part of principal repaid.

[Author]

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