Tax rebate on the home loan interest

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  1. Gopa

    Gopa New Member

    Dear all,

    The income tax deduction on the home loan interest part, is mentioned as accrual method and not payment. In max gain housing loan scheme of SBI, we can tune the account in such a way that we don't have to pay the interest if we top the full home loan. The loan account will be active for the full period and it will allow you to withdraw the money from there. In such cases can we claim income tax deduction under section 24, based on the estimated principal and interest repayment.

    Thanks
    Gopa
     
  2. Karan Batra

    Karan Batra Well-Known Member

    Dear @Gopa

    Could you please elaborate your query.

    Please also elaborate the words - "withdraw the money from there"
     
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