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
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Interest on personal loan
Replies (5)
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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