Can i claim top up housing loan tax exemption

You can get tax deduction benefit on the top-up loan if you have receipts/documents to prove that the loan taken has been used for acquisition/construction/repair/renovation of a residential property.

The tax benefit is available only on the interest portion of the loan under section 24(b) The tax rebate from top-up loan is inclusive of the tax rebate on existing home loan.

In case of Top-up loan, How to claim the benefit on interest paid. 

Based on interest certificate issued by Bank........ 

I read that only amount of Rs.30000 interest paid on top-up loan can be claimed as tax free. HDFC follows different procedure for home renovation loan, however they failed to do so, hence they converted my loan from renovation to top-up. Hence still can I claim the interest benefit. Do I also need to declare top-up loan as separate loan or can add in same declaration

 

I hope, the bank has not created additional loan account..... If so, you cannot get additional benefit.

But if loan account remains same, you can continue to get interest benefit as per the bank statement.