Interest on personal loan

I have taken personal loan Rs.5 lakh
from HDFC Bank for repairing my ancestral old house.
Can I take deduction of loan Interest & pricipal amount of loan repayment u/s 24b &80cc

Please guide us

Thanking you

Regards
Rajkumar Gutti
Replies (5)
Quick Summary
This discussion explores whether interest paid on a personal loan used for house repairs can be claimed as a tax deduction. While Section 24B typically applies to home loans and Section 80C to principal repayment of home loans, there's a question about claiming interest for repair expenses. The consensus leans towards eligibility for interest if the loan was specifically for repairs, but not for the principal amount under these sections.

I think you are not eligible as in section 24B deduction is allowed on Home Loan Interest, and in 80C allowed repayment of principal of Home Loan
But I think only interest part is allowed for home repairing
Yes interest on personal loan is allowed as it used in the repairs of HP
Yes interest on loan can be claimed
It's a personal loan not a home loan , so not eligible

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