if i taken Personal / Top-up on Home Loan, this amt mention on IT Return, can its my annual Income for pay the tax as per IT slab.
thx
Sandeep Bhavsar
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Bank Loan amt mention in IT Return
Replies (2)
Loan is not income, and as such not declared in ITR under any heads of income.
So, not taxable.
If your purpose is to construct new home or renovate old home you can claim the interest on accrual basis can set off the loss from other income.
condition apply after getting the COC.
condition apply after getting the COC.
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