Tax Benefits On Loan Against Property | Tata Capital

Know How To Avail Tax Benefits on your Loan Against Property.

You can claim Tax Benefits on Loan Against Property in case you used it for buying a residential property Under Section 24(B) of the Income Tax Act –
• For Salaried Individuals - Upto Rs. 2 Lakh Tax Deduction for 1 Financial Year On the the interest paid.

You can also claim Tax Benefits on Loan Against Property in case you used it for business expenses Under Section 37(1) of the Income Tax Act.

However, you can’t claim Tax benefit under Section 80(C) in case you use it for –
1. Medical Expenses
2. Education
3. Travel/ Wedding
4. Remodelling/ Renovation of mortgaged property

Keep these points in mind while claiming Tax Benefits on your Loan Against Property.

To explore more about Loan Against Property by Tata Capital visit: https://www.tatacapital.com/loan-agai...


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