Credit card loan

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404 Points Posted on 24 August 2020
What impact will it have in ITR if a person is paying credit card loan? Under which section will he be eligible to claim deductions?
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On 24 August 2020 at 11:28 Report
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This discussion explores the impact of credit card loan repayments on an individual's Income Tax Return (ITR). It clarifies that there are generally no specific deductions available for credit card loan repayments themselves. However, if the loan was taken for a health-related purpose, there might be avenues for claiming deductions under relevant sections of the Income Tax Act.

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Tax and Business Consultant
11616 Points Posted on 24 August 2020
There is no such Deduction is available to individual on credit card loan repayment.

For which purpose you take this Loan..?
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On 24 August 2020 at 13:02
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404 Points Posted on 27 August 2020
Health purpose
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On 27 August 2020 at 13:18

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