• Personal loan

whether the Personal Loan taken from PNB/SBI for the purpose of acquire/purchase of land is tax rebateable or not. please guide me.
Asked 12 months ago in Income Tax from Shimla, Himachal Pradesh
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   
Lalit Bansal
CA, Delhi
559 Answers
37 Consultations

5.0 on 5.0


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. 

Rohit R Sharma
Rohit R Sharma
CA, Mumbai
2104 Answers
91 Consultations

5.0 on 5.0


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.

Keerthiga Padmanabhan
M.Com., CA, LL.B
Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
23 Consultations

5.0 on 5.0

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
Abhishek Dugar
CA, Mumbai
3578 Answers
161 Consultations

5.0 on 5.0

Ideally, It should be house property loan. But if you get deduction certificate its fine 
Vidya Jain
CA, Kolkata
630 Answers
15 Consultations

4.8 on 5.0


There are deductions in income tax laws for home loans and not for personal loans.
Lakshita Bhandari
CA, Mumbai
2177 Answers
71 Consultations

5.0 on 5.0

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