Housing Loan Interest U/s. 24

139 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