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manjunatha k s (chief manager)     09 June 2011

Income tax exemption for additional rooms construction?

Dear Sir,

I have built a house by taking house loan in 1997 in Bangalore and availed the income tax exemption available  during that time. I am a  central PSU employee and  planning to go for additional rooms construction in 2 nd floor of the same house which I have occupied since 1997.I am planning to go for house loan(Rs 5.0lakhs for 5 years term ).Can I avail the income tax  exemption benifits of principal  repayment and  house loan interest under section 24(b).

Please clarify.

Thanks in advance.

from

manjuks



Learning

 1 Replies

Niranjan (hr)     13 June 2011

Tax benefits are available on the interest paid for the 'home improvement loan' under section 24


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