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How to maximize tax benefits on loan?- Propert Hotline
Posted
July 15, 2016
Views
35
July 15, 2016
35
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3:28Now PlayingBe Un Confused
Expert: Harsh Roongta, Chartered Accountant and a SEBI registered Investment Advisor?
Question: I pay over Rs1.5 lakh as interest on my home loan. How can I maximise tax benefits on the loan?
Answer: Is the house on which the loan is taken given out on rent? If yes then the entire interest is deductible without any limit. In case if it is a self-occupied property then the limit has been raised to Rs2 lakhs on interest payment and Rs1.5 lakhs on principal repayment.
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