Can someone claim tax rebate for loan against property (lap)

Hiren Joshi (Sr Manager) (43 Points)

02 July 2015  

Hello Experts!

One of the bank employee who is also a CA was trying to convince me to accept LAP (Loan Against Property) as I can claim same tax benefits which are available under Home Loan. I am a salaried, ordinary tax payer and I file my returns every year. 

However I am not completely convinced. Request you all experts to throw some lights on this topic and guide me.

Best regards,