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Section 24(b) PL and HL

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(Querist)
30 October 2023 If someone is taking Personal Loan to buy a land for home, (because of free hold land no home loan is provided by any Bank there) Is it possible to take deduction of interest under section 24(b)?
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Ashish Dubey

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Ashish Dubey (Querist)
30 October 2023 Please share all possible solutions.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
30 October 2023 Yes, such interest payable for home is eligible for deduction under section 24(b) after completing house construction.
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Ashish Dubey

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Ashish Dubey (Querist)
30 October 2023 Thanks Sir for your valuable reply.

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