Deduction towards Loan taken for Home Loan Insurance

This query is : Resolved

Alex Fernandes (Querist)
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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

Dhirajlal Rambhia (Expert)
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02 October 2021 As such no; unless it is top up home loan.

Alex Fernandes

Alex Fernandes (Querist)
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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?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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02 October 2021 Whether the second loan taken was personal loan or top up loan?

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