home repair expenditure
This query is : Resolved
22 December 2016
I repaired my house by taking 10lakhs as loan from my of account and repaid it this financial year. can this loan and interest claimed for income tax rebate ?
22 December 2016
You can claim deduction on interest paid u/s 24(b) of the income tax act. The max deduction allowed for self-occupied house property is Rs. 2 lakh and no max deduction is allowed if it is not self-occupied HP.
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