Using family loan to enhance home loan tax benefit
Synopsis Homeowners can now potentially claim tax deductions on interest paid for both their original home loan and a subsequent loan taken to repay it
Synopsis Homeowners can now potentially claim tax deductions on interest paid for both their original home loan and a subsequent loan taken to repay it, under the old tax regime. This benefit, supported by a 1969 CBDT circular and expected to continue under the Income-tax Act, 2025, allows for dual deductions up to Rs 2 lakh for self-occupied properties.
The BriefWire