21 November 2011
I am paying Housing loan in which presently I am staying, now I have taken home improvment loan on same house. whether i can claim interest and principal amount on Home improvment loan in addition to my existing loan ?
21 November 2011
No, you can not claim a benefit of principle and interest thereon as a deduction if the loan is taken for further improvements or repairs either U/s 24(b) or 80C of IT Act.
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