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Loan taken for construction of house
personal loan taken for construction of house and used it as self occupied,then interest and repayment of principle amount allowed as deduction under respective sec or not
Replies (2)
Quick Summary
As per sec 80C Repayment of loan taken from Banks or Financial institutions for purchase or construction of House,
there is no mention whether there should be house loan or personal loan....
soo Yes, you eligible to take deduction on both repayment of loan and Interest there on.
there is no mention whether there should be house loan or personal loan....
soo Yes, you eligible to take deduction on both repayment of loan and Interest there on.
No. Its clearly mentioned loan taken for construction of house and the repayment of principal can be claimed in 80c
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