Deduction towards Loan taken for Home Loan Insurance
This query is : Resolved
Quick Summary
Alex Fernandes
(Querist)
02 October 2021
I have taken a loan for funding home loan insurance. Can I claim deduction on Principle and Interest re-payment of this loan.
Dhirajlal Rambhia
(Expert)
02 October 2021
As such no; unless it is top up home loan.
Alex Fernandes
(Querist)
02 October 2021
Sir,
I request further clarification.
I had taken home loan (from HDFC Bank) for buying one flat. In addition to this further loan was taken (from HDFC Bank) for home loan insurance of this same flat.
I know I can claim deduction on Principle and Interest re-payment of home Loan.
But can I claim deduction on Principle and Interest re-payment of loan taken for home loan insurance?
I request further clarification.
I had taken home loan (from HDFC Bank) for buying one flat. In addition to this further loan was taken (from HDFC Bank) for home loan insurance of this same flat.
I know I can claim deduction on Principle and Interest re-payment of home Loan.
But can I claim deduction on Principle and Interest re-payment of loan taken for home loan insurance?
Dhirajlal Rambhia
(Expert)
02 October 2021
Whether the second loan taken was personal loan or top up loan?
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