Dear friends
Is repayment of personal loan taken for construction of house is deductible?
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Chapter VI A deductions
Replies (8)
Yes principal amount is allowed as deduction to person making repayment of loan u/s 80C
You can deduct only the Housing Loan principal payment as per 80 C upto 1,50,000/-
yess deductible u/s 80C
upon ₹ 150000 in 80c and interest on that loan upto ₹200000 in 24b
Yes... You can claim.
But, Better to Keep proof for using personal Loan into Construction of the House...
But, Better to Keep proof for using personal Loan into Construction of the House...
NO AS LOAN IS TAKEN FOR REASON PERSONAL NOT HOUSING SO YOU CANT GET INTEREST CERTIFICATE AND WILL NOT GET ANY DEDUCTION
good and nice clarification like it
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