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investment vs payment of loan
I am having a personal loan of rs. 2.5 lakhs outstanding bearing 14.75 â„… interest rate. I should invest money for deduction in tax or pay the personal loan...what should i do
Replies (3)
If your slab rate is 20% or more, you may think of investment for 80C.
sir slab rate is 10%
In that scenario, its not advisable as net effect will be nil. Secondly, the investment will have lock in period of minimum 3 years, and if the slab is increased in the next budget, then net impact will be negative.
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