Housing Loan Interest U/s. 24

181 views 4 replies
I am taken a loan against fixed deposits, Rs. 6 lacs, the same should be used for the purchase of House, and my question is interest on such loan allowed as deduction under section. 24
Replies (4)
if it is housing loan then you can avail or else no

Yes because its the end use of loan that matters not the nature of loan. Even presonal loan utilized for the acquisition or construction of home and interest paid on that personal loan is eligible for deduction u/s 24.

The burden of proof in case of Home Loan is not stringent as the nature and end use of loan is same but in case of other loans so utilized, you need to keep the proof like amount of expenditure, your source of income, time of expenditure and bills etc so as to justify your claim.

Dear Ghosh Thanks for your valuable suggestion..
Most Welcome.. . . .


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details