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Intt on home loan

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Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2013 A person takes home loan for rs. 25 lac for purchase of a property which includes 17 lac as purchase cost and 8 lac for improvement of property. Now, he uses this surplus 8 lac for other purposes instead of getting improvements in property. So, will he be able to claim benifits for intt and principal repayment against full amt of 25 lacs or only against 17 lacs?

Anil Sankar V

Anil Sankar V (Expert)
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08 May 2013 it is possible to claim against full amount of rs.25 lakhs

Querist : Anonymous

Querist : Anonymous (Querist)

08 May 2013 Will it not be questioned where that 8 lac used?

Anil Sankar V

Anil Sankar V (Expert)
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08 May 2013 in practical scenario,there will be no verification practically.

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