Home Improvement Loan_Income tax deduction

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Dipen (Querist)
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10 July 2023 Dear Experts,

In one of the case, individual has taken loan of Rs 25L for house purchase and improvement. However agreement value of the house is Rs 11,42,000/- . Hence differential is towards House improvment. Please advice whether interest and principal towards house improvement can be taken as deduction in income tax? since there is no seperate break up , total loan of Rs 25L is for both.

Regards,

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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10 July 2023 If the loan is of singular nature, you can claim deduction over aggregate/singular EMI paid, unless there is any bifurcation of amount paid in receipt.

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