Can we claim Loan (100% or 60%) from bank against fixed deposit for buying residential plot ?

POSTED BY Venu Rao ON May 16, 2014 9:45 am COMMENTS (3)

Can we claim Loan (100% or 60%) from bank against fixed deposit for buying residential plot ?

3 replies on this article “Can we claim Loan (100% or 60%) from bank against fixed deposit for buying residential plot ?”

  1. ashalanshu says:

    Dear Venu, the answer is NO.

    Thanks

    Ashal

  2. ashalanshu says:

    Dear Venu, yes your mother can take upto 90% of her FDs as loan or overdraft. What type of tax benefit here you are asking for? What’s in your mind, please share?

    Thanks

    Ashal

    1. Venu Rao says:

      Dear Ashal thanks for reply.

      Can you kindly clarify me,

      1) can we get tax rebate (benifit) on Loan Principal paid.
      2) can we get tax rebate (benifit) on Loan interest paid.

      On buying a residential land (plot).

      If yes,then how much?

      Thanks in advance.

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