Inclusion/Exclusion during Income Tax Return Filing

POSTED BY Umang Sheth ON October 31, 2013 9:29 am ONE COMMENT

Do EMI Payable on application of Loan Against Property (LAP) be eligible for Tax Deduction during Income Tax Return Filing?? If yes, then is it eligible for Interest paid on the borrowed amount (u/s 24(b) of IT Act,1961) and/or Repayment of Principal amount (u/s 80 C of IT Act,1961) ?

One reply on this article “Inclusion/Exclusion during Income Tax Return Filing”

  1. There is no tax benefit for loan against property . PERIOD ! .

    Manish

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