Benefit of interest on loan taken for land

This query is : Open

Neeraj Rathee (Querist)
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26 July 2011 Please advice, Can I claim the Deduction of "Interest on Loan" taken for purchase of Land ?

And also the deduction of Loan repayment.

And I am not claiming HRA deduction.

Pls advice.

CA. Ashish Bihani

CA. Ashish Bihani (Expert)
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26 July 2011 Hi Neeraj,

It seems you are in employment. You cannot claim any deduction of interest on loan.

Regards..

Neeraj Rathee

Neeraj Rathee (Querist)
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27 July 2011 Dear Sir

Thanks for the comment.
I have purchased Land and started construction of my house. And I have taken Loan for purchasing the Land.

In that case can I take rebate of Interest on Loan.
Pls advice.