I have taken a home loan from the private company, then I have income tax
Will it be discounted in returns?
And if you will get so much
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Home Loan Deduction
Replies (2)
You can claim a deduction under Section 24 for interest repayment on loans taken from from anyone provided the purpose of the loan is purchase or construction of a property.
"For tax purposes, the loan is not relevant, the usage is".
But you can't claim deduction under section 80EE for principal repayment for loan borrowed from anyone other than a scheduled bank.
You can claim home loan deduction:
1. For Principal amount u/s 80C
2. For Interest u/s 24 & 80EE subject to some conditions.
1. For Principal amount u/s 80C
2. For Interest u/s 24 & 80EE subject to some conditions.
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