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? asked in Business & FinanceTaxesIndia · 9 years ago

Is there Income Tax rebate for housing loan for repair & maintenance loan?

I had availed a housing loan for buying a ready built House,Now after 4 years,I need to do Repair & maintence on that house,If I avail loan for Repair & maintence from same source will I get I.T Rebate for that loan on the same house ?

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  • subasu
    Lv 6
    9 years ago
    Favorite Answer

    There is no rebate of income tax on either the principal or interest paid on loans taken for repairs and maintenance of the houses.

    Please note that out of the income from the house property, 30% rebate is given for maintenance and repairs (whether done or not during the period in question.)

  • Anonymous
    9 years ago

    You get loan for repair your home .

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