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exemption under which section of income tax
personal loan taken in this financial year for purchasing a plot of land for construction of home. loan to be repaid in five years @ 33500 monthly.Loan amount RS 1500000.
Replies (5)
please let me know if any exemption is permissible under any sec
i think deduction under sec 80EE can availed to the extent of rs 50000 or the actual sum paid whichever is lower
interest on loan is deductible under income from hp whether paid or not & principal amount of loan paid under sec 80C
The above said is for housing loan but not for personal loan
you can start claiming deductions once you have constructed the property
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