Deduction for house renovation loan
This query is : Resolved
16 February 2012
Hello,
I have a query regarding loan taken for renovation of house.
1. Is deduction under 80C is available only for purchase of house property and not for renovation?
2. If not along with interest deduction u/s 24 for renovation loan can the principal amount be claimed?
3. If not above is there any other benefit allowed for renovation loan?
4. What if the loan is taken by other family member and not the owner?
I have a query regarding loan taken for renovation of house.
1. Is deduction under 80C is available only for purchase of house property and not for renovation?
2. If not along with interest deduction u/s 24 for renovation loan can the principal amount be claimed?
3. If not above is there any other benefit allowed for renovation loan?
4. What if the loan is taken by other family member and not the owner?
Shalibhadra
(Expert)
16 February 2012
there is no deduction for loan taken for renovation of house
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