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Interest paid on housing loan is tax deductible under Section 24B

Saturday, December 2, 2017, 12:15 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.
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