Save tax on Personal loan
This query is : Resolved
06 May 2024
I have taken a personal for house construction can I save my tax by showing the interest that I am paying?
07 May 2024
Yes, in case the amount of personal loan has been used for the purchase, construction or repairs renovation of your house property, you can claim the interest under section 24(b) within prescribed limits, provided you are able to conclusively prove that the personal loan was in fact used for the stated purpose.
07 September 2024
Good Luck.
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