Home improvement loan

Hello Sir,

I have recently purchased an apartment and paid full amount (my own funds) and got it registered. Now I want to get the Interiors done and planing to go for Home improvement loan. Will I be able to get the tax benefit if I go for Home improvement loan? Please clarify

asked Mar 11 '13 at 18:02 by Srihari 165711

Income tax benefit is available only on interest part in case of home improvement loan. Max benefit can be taken upto Rs 30,000 u/s 24 in case of self occupied house.
In case of rented property, whole interest can be deducted from rental income without any limits.

answered Mar 13 '13 at 11:32 by Pankaj Batra 5.2k320


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Asked: Mar 11 '13 at 18:02

Seen: 1,319 times

Last updated: Mar 13 '13 at 11:32