I had taken a loan for constructing ground floor self occupied house 4 years ago having a repayment tenure of 10 years. Now I want to construct the first floor of the house also for self occupation. I want to prepay the balance loan amount and take a fresh house loan. Will I get tax exemption on principal and interest repayment?
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Extension of house loan exemption
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You can avail deduction of principle and interest on the new home loan subject to the condition of actual possession of the 1st floor.
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