Exemption of the top up home loan's principal & interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2014
Dear Expert,
I have two loan from TATA Capital, one is a Home Loan (Disburse in 2010) and second is Top up of the Existing of Home Loan (Disburse in 2013).
Please confirm whether Principal & Interest of both the loans are exempted? if yes then confirm me the amount of exemption.
I have two loan from TATA Capital, one is a Home Loan (Disburse in 2010) and second is Top up of the Existing of Home Loan (Disburse in 2013).
Please confirm whether Principal & Interest of both the loans are exempted? if yes then confirm me the amount of exemption.
26 February 2014
no deduction for principal repayment on top up loan. if the loan is for refurbishing/improving the house, interest can be claimed subject to section 24.
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