Can i write off interest on a car loan

Think, you can i write off interest on a car loan ideal answer opinion

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In India, taxpayers can claim tax deductions on home loan interest under Section 24 b of the Income Tax Act. This deduction is available for self-occupied properties that are completed within five years and for which the loan was taken for acquisition or construction.

The maximum deduction available under Section nfcu car service b is Rs. In addition to Section 24 bthere is a separate deduction available under Section 80EEA for interest paid on affordable housing loans.

This deduction is available for properties with a stamp duty value of Rs. It is important to note that the overall deductions on home loan interest, including both Section 24 can i write off interest on a car loan and Section 80EEA, cannot exceed Rs. However, for let-out or deemed to be let-out properties, there is no upper limit carx credit the interest deduction.

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