For how many years, ';Interest'; for House building loan can be deduted from annual income ? Is there any time restriction? or can it be deducted as long as loan get cleared?For How many years House building Loan interest can be deducted for income tax purpose?
So far there is no time limit on interest. It is allowed as deduction as long as you are paying the loan interest. We cannot say what happens next year. But I am sure that they will not keep any time restrictions on Housing loan interest deduction.For How many years House building Loan interest can be deducted for income tax purpose?
For as long as you pay interest on a mortgage, you can use the interest to calculate your tax.
until you pay your loan amount whole
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