Income tax - home loan top up

SUDHAKARAN V T (Querist) 07 February 2014 This query is : Resolved
I have transferred a home loan from A-bank to B-bank. Further I have taken a top-up loan against this from B-bank to meet my expenses towards renovation etc of the same property. (Self coocupied propery)

Now the issue is

Bank is issuing income tax certificate for main loan only and not against top-up loan. They clarified that since the main loan is covered under tax rebate, we are unable to issue IT certificate for top-up loan.

Kindly look into this and advise whether the loss from house property can be claimed against Top-up loan also

says that only

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Anirudh (Expert) 08 February 2014
The action and explanation of the Bank is correct.

C. SANJEEVA RAO (Expert) 08 February 2014
ur entitle to claim loss from house property provided the purpose of top-up loan should be proved with proper documentary evidence. i.e. through bank statement etc.

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