PERSONAL LOAN CLAIM OR NOT
This query is : Resolved
Quick Summary
binay shaw
(Querist)
28 June 2020
Sir
Can I claim personal loan under section 80 C and 24B.Please suggest.
Purpose of this loan -Use father medical treatment.
Can I claim personal loan under section 80 C and 24B.Please suggest.
Purpose of this loan -Use father medical treatment.
CA R SEETHARAMAN
(Expert)
28 June 2020
No you can't claim as it's used for medical treatment.
Punit Gupta
(Expert)
29 June 2020
Personal Loan cannot be claimed for any kind of tax benefit, irrespective of its end use.
Its not only the end use, but the Nature of Finance/Loan which determines the taxation benefit of any loan.
Its not only the end use, but the Nature of Finance/Loan which determines the taxation benefit of any loan.
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