Interest paid on housing loan is tax deductible under Section 24B
Saturday, December 2, 2017, 5:45 PM
If you have taken a housing-loan to buy a house, then the interest you pay on your housing-loan qualify for tax benefit under Section 24B. Interest paid up to Rs.2 lakh in a financial year on housing-loan is allowed as deduction from your income. If you have taken a home-improvement loan, then interest up to Rs.30,000 will be allowed as deduction under this section.