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Interest on home loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
28 September 2011 Whether home loan taken on construction of floor on existing house will be new construction or extension/repairs/renovation ?
& Interest on home loan will be available upto Rs 150,000 or 30000?
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CA Amit Joshi

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CA Amit Joshi (Expert)
28 September 2011 Construction of new floor will be treated as new construction and interest will be allowed upto Rs. 150000.

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