Interest on personal loan

This query is : Resolved 

24 November 2018 Is interest on personal loan is allowed as deduction for salary individual

24 November 2018 no. it is not allowed.

24 November 2018 Typically interest paid on personal loan taken for consumption purposes is not available for deduction.


24 November 2018 Personal loan is used for construction on house

16 February 2019 Interest allowed as a deduction from Net Annual Value (Net Income) of the residential property & principal Tax liability reduced as per applicable marginal tax rate.



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