What is the deduction that is available for purchase of a Flat costing Rs.25 Lacs for which loan has been granted by bank through Reverse mortgage?
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Dedctions for purchase of ahouse
Replies (2)
Hi Friend,
U can get deduction U/S 24b for the Interest which u pay to the banks towards this loan & the Repayment of Principle U/S 80C..
Thanks I hope this info helped u.
R Shriram
you can get the benefit of interest payment on such loan u/s 24b and the repayment of principal under sec tion 80c
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