Interest on Housing Loan
This query is : Resolved
10 June 2011
Dear Sir /Madam,
I have paid remaining housing loan installments before maturity and the bank charged interest Rs.1,00,120/ as the installments were paid prematuredly.
cab this amount of interest be treated as interest on housing loan and allowable in income tax as interest on housing loan ?
Your reply will be highly appreciated.
Thanks
Navin Parikh
I have paid remaining housing loan installments before maturity and the bank charged interest Rs.1,00,120/ as the installments were paid prematuredly.
cab this amount of interest be treated as interest on housing loan and allowable in income tax as interest on housing loan ?
Your reply will be highly appreciated.
Thanks
Navin Parikh
10 June 2011
As per law interest on delay payment of housing loan is not allowed. therefore if bank has charged extra interest then its not allowed.
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