18 February 2011
As there is tax rebate for home loan under sec 80C and 24 for interest, if any body wants to purchase some house on which banks are not giving home loan then can he get the tax benefit on principal & interest on personal loan if bank certify in the certificate that the loan is for house purchasing
Under 24 it has been given that amount should be used for construction/repair/purchase of house property and it does not stated about source of loan, therefore here you can claim interest as deduction if certificate received from Banker.
However, u/s 80C Homeloan clearly mentioned there, so you cannot claim Principal amount here.
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