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Is there any IT tax rebate for loan taken for a commercial property (SHowroom)?

This query is : Resolved 

Is there any provision for tax rebate on the principal amount or the interest paid on a loan taken for commercial property (shop)? I'm a salaried person and want to purchase a shop for my family members and run it.

I want to check whether any rebate or deductions are allowed on loans for commercial property?

thanks and regards,
Jesudas F.

No deduction for principal amount. Interest can be claimed as business expenses for the commercial property.



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