Home loan interest exemption

This query is : Resolved 

21 March 2013

Hello Sir,

I already have a home loan with LIC Housing Finance Ltd. I am transferring my home loan to SBI. The loan amount is 25 lacs and cost of property is 37 lacs. As per this year's union budget, would the additional exemption of 1 lac at home loan interest be applicable in my case.


Deepanshu Agg. (Expert)
23 March 2013

Loan taken on or after 1st april ,2013 only eligible for deductin . therefore you can't avail additional exemption of 1 lac

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