Tax Deduction for Personal Loan for House Renovation

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  1. hephzibhababu

    hephzibhababu New Member

    I have taken personal loan to bridge the amount required for buying a house and doing renovation works.
    Would you please clarify , whether I can claim tax exemption for the interest paid on Personal Loan?
     
  2. Amit Sahni

    Amit Sahni Active Member

    Yes, you can claim tax deduction for the same.
     
  3. hephzibhababu

    hephzibhababu New Member

    Hi Amit,

    Thank you so much for your reply.

    Would you please let me know what all documents I have to keep while claiming the tax deduction.
    I have the house registration document as well as bills of the material used for renovation.
    Is it enough to claim the deduction?
     
  4. Amit Sahni

    Amit Sahni Active Member

    You should also have a letter from the banker indicating the interest to be paid on such loan
     
  5. hephzibhababu

    hephzibhababu New Member

    Hi Amit,

    Thank you so much for your reply.
    These information will really help me
     
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