Deduction on loan for housing property

Rakesh (CA) (72 Points)

20 May 2011  

Hi All,

I am having one query with regards to deduction u/s 24 and 80C.

Is it necessary to take loan in the category of housing loan to claim the deductions under these sections . If i take personal loan from any bank/financial institution and utlise that loan for purchase of house property. will i be eligible to claim deduction under the above mentioned sections. What documentary prood will needs to be submitted to the employer as under the personal loan no interest certificate is issued .