Interest of 2nd home loan

POSTED BY Rajaram ON January 11, 2011 1:29 pm ONE COMMENT

Hi,

I have purchased a new house and it is under construction. Possession will be in Dec-11. I am opting for a new home loan and going to close old home loan.

Whether the interest of new home loan will be taxable? Can I claim it for income tax deduction?

Regards

R.Khose

 

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