Home improvement loan


#1

What are the tax benefits for home improvement loan?


#2

Hi

Under Section 24 of the Indian Income Tax Act, 1961, the interest that is payable on the home improvement loan is however tax deductible for up to Rs 30,000 p.a. This forms a part of the complete tax benefit of Rs.1,50,000 that is available per annum under this section for the interest paid on home loans.

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