govt employees having salaries and he has taken Land loan in Pvt bank from this can we show the interest Certificate and can we refund tds amount in IT filing
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Quick Summary
This discussion clarifies whether the interest paid on a land loan from a private bank can be used to claim a TDS refund during IT filing. Unfortunately, interest on land purchase loans is generally not deductible under Section 24(b) of the IT Act; only housing loan interest is eligible. While there might be other ways to get a TDS refund through IT filing, this specific interest expense cannot be deducted.