Ordinarily, the amount that is principal interest costs compensated towards a personal bank loan can not be deducted for income tax exemptions, you could claim deductions if you work with the personal bank loan for home renovation or even to spend the advance payment on a mortgage.
Have you been renovating your own property? It is possible to claim as much as Rs. 2 lakhs on interest compensated on your own unsecured loan.
Additional Reading: Unsecured Loan Handbook: All Concerns Answered
If managed responsibly, loans will allow you to plan your money better. We now have great provides only for you on both true Home Loans and Personal Loans. Wish to give them an attempt?
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19 thoughts on вЂњ 3 Loans that will provide you with Great Tax Benefits вЂќ
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Is insurance coverage modification if We buy vehicle back at my company name will u tell us distinction whenever purchase car on individual title and firm title