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Mortgage term loan

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 March 2016 Dear Sir,

Mortgage Term Loan is eligible deduction u/s 80C or 24B of Income Tax Act ?

Thanks
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 April 2016 Mortgage Term loan not eligible for deduction U/s 80C.
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 April 2016 Mortgage Loan means Loan taken from banks against Mortgage of Residential Home to use the Loan for personal expenses...does it will be elegible or not sir..?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
01 April 2016 No, loan taken used for personal expenses not allowed u/s 80C and interest u/s 24B

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