I had a home loan of Rs. 10 lac taken in 2009 in a financial institution SBNP. Took personal loan from a nationalized bank in 2011 and pre-paid the housing loan from the personal loan amount of Rs. 3 lakh. Paying interest and principal for both to each financial institution. Could I get tax benefit for the interest part, which I am paying for personal loan? asked Jan 05 '12 at 17:49 by muthu 1●1 |
There won't be any tax benefit for interest paid on personal loan. Only interest payment of home loans and education loans have tax benefit. answered Jan 05 '12 at 17:55 by Pankaj Batra 5.2k●3●20 |