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Mortage loan

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(Querist)
10 September 2009 Hi,

I would like to know if there is any case or a provision in Income Tax Act through which interest on mortgage loan is deductible.
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Late CA Sampat Jain

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Late CA Sampat Jain (Expert)
11 September 2009 IF THE LOAN IS FOR PERSONAL PURPOSE , IT IS NOT ALLOWBLE

IF IT IS FOR BUSINESS PURPOSE , IT IS ALLOWABLE AGAINST BUSINESS INCOME

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