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Lic loan

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(Querist)
15 October 2015 loan taken against lic p olicy : the interest paid on such loan is it allowed as deduction under incom tax?? if loan is not for business purpose then what is effect??
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Trinadharao Adigarla

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Trinadharao Adigarla (Expert)
15 October 2015 Not not allowed for deduction
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CA AnKiT BoHrA (AB)

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CA AnKiT BoHrA (AB) (Expert)
24 October 2015 not allowed then ..................
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