Tax Deduction for Interest Free Loan

Share This Thread
  1. vaishali216

    vaishali216 New Member

    Sir, what if the employee has taken an interest free loan for constructing his house property from his employer? Would he still be eligible to claim deduction of interest on borrowed capital u/s 24(ii)?
  2. Karan Batra

    Karan Batra Well-Known Member

    Deduction under Section 24 is allowed for Interest paid on Home Loan.

    When there is no Interest paid - you cannot claim deduction under Section 24
Draft saved Draft deleted
Similar Threads Forum Date
Tax Deduction on interest on personal loan Income Tax Dec 13, 2017
Interest applicable for late deduction or not u/s194c ? Income Tax Jun 16, 2017
Deduction of housing loan Interest Income Tax Jun 10, 2017
Deduction of interest against loan from F.D. Income Tax Mar 28, 2017
home loan interest deduction from taxable income Income Tax Jan 16, 2017