Interest on personal loan
This query is : Resolved
24 November 2018
Is interest on personal loan is allowed as deduction for salary individual
24 November 2018
no. it is not allowed.
24 November 2018
Typically interest paid on personal loan taken for consumption purposes is not available for deduction.
24 November 2018
Personal loan is used for construction on house
16 February 2019
Interest allowed as a deduction from Net Annual Value (Net Income) of the residential property & principal Tax liability reduced as per applicable marginal tax rate.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Multiple payment of self assessment tax for A Y 2025-2026
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- Error in uploading Form 10BD
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- ITC BENEFIT ON BROKRAGE PAID
- DUE DATE FOR ITR FILING
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
