Personal loan

no personal loan interest or principle not rebate able and Home loan is rebate able in case of Home only not only purchase of land

Hello,

No, it is not. Only housing loan is.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, FCA, LLB, CERT. FAFP

Hi,

No, only a housing loan taken in order to buy a house property or construct a house property can be claimed as house property loss.

Regards,

Keerthiga Padmanabhan

M.Com., CA, LL.B

Loan taken for purchase of LAND is not rebatable. However, loan taken for purchase of a HOUSE is tax rebatable.

Please feel free to call revert in case you need more clarity

Thanks and regards

Abhishek Dugar

CA CS B.Com

Ideally, It should be house property loan. But if you get deduction certificate its fine

Hi..

There are deductions in income tax laws for home loans and not for personal loans.