Income tax deduction for home renovation loan
This query is : Resolved
02 November 2018
Hi,
Please on the following query.
We have two houses. In fist house owned by my wife, who is a house wife.We are living in this house and the second house which is jointly owned by both of us for which we have taken a home loan and I am claiming deduction on interest on hme loan in my ITR.
Now for first house(self occupied house by us) I want to take home renovation loan in my name or my wife's name.
Please advise if I can claim the deduction for home renovation load for 1st house in my ITR in addition to deduction which I am already claiming for let out house.
Please advise .
Please on the following query.
We have two houses. In fist house owned by my wife, who is a house wife.We are living in this house and the second house which is jointly owned by both of us for which we have taken a home loan and I am claiming deduction on interest on hme loan in my ITR.
Now for first house(self occupied house by us) I want to take home renovation loan in my name or my wife's name.
Please advise if I can claim the deduction for home renovation load for 1st house in my ITR in addition to deduction which I am already claiming for let out house.
Please advise .
02 November 2018
Interest on renovation loan can be claimed u/s 24(b).
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