Re-payment of home loan from personal loan

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 11

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 5.2k320


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Asked: Jan 05 '12 at 17:49

Seen: 1,511 times

Last updated: Jan 05 '12 at 17:55