hum ia 2022 23 m gar ko renwewal/ karne ke lie ek loan lena chahte hai uski principle aur interest ki rebate deduction kese milegi
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Quick Summary
This discussion clarifies tax benefits for home renovation loans. For self-occupied properties, interest paid on loans for reconstruction can be claimed as a deduction up to £30,000 under Section 24(b) of the Income Tax Act. It's also noted that deductions under Section 80C are generally not applicable for such loans.
If loan is borrowed in respect of self occupied property, interest to the maximum of 30000 can be claimed as deduction under 24(b). 80c deduction is not available