Personal loan

02 August 2019

one my Client taken a personal loan,can he claim deduction on interest amount paid.

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6 Replies

Aman Shivharey (78 Points)
Replied 03 August 2019

yes he can claim deduction of interest under section 24(b) but not under 80EE

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Saket Mishra (367 Points)
Replied 03 August 2019

he cant claim interst u/s 24 since its not a housing loan

Sai Prasad (43 Points)
Replied 03 August 2019

no he can't
in loan document it sould be clear housing loan

Kapadia Pravin (17264 Points)
Replied 03 August 2019

if loan is used and attributable to any taxable Income then deduction yes

RAJA P M ("Do the Right Thing...!!!") (128101 Points)
Replied 03 August 2019

Originally posted by : Yogesh Sharma
	one my Client taken a personal loan,can he claim deduction on interest amount paid.

No... Deduction not available...

Jatin Gada (searching job) (151 Points)
Replied 04 August 2019

No deduction available for Personal Loan.

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