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Is Home Loan Protection insurance Tax Deductibe ?

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(Querist)
08 February 2023 Is home loan protection insurance tax deductible?

You can claim tax deduction under section 80C on the premium paid for home loan protection insurance plan. The deduction is not allowed when you borrow the premium money from your lender and repay via EMIs.

is this Correct ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
08 February 2023 No. Not deductible u/s. 80C of IT act.
Only if banker club it with EMI, you can claim it u/s. 24(b) of the act.

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