if a person taken home loan for new property and claim deduction but after some years if he takes top up on that loan and against same property
can he claim deduction of interest and principal on both amount
or just on home loan.
pls clarify
Yes, you can get tax deduction benefit on the top-up loan if you have receipts/documents to prove that the loan taken has been used for acquisition/construction/repair/renovation of a residential property.
The tax benefit is available only on the interest portion of the loan under section 24.
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