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Insurance on Housing Loan

krishna besta

Dear Sir,

I got a Housing loan as well as insurance on Housing loan. As per Our income tax concern we can claim Interest on Housing loan as Loss under House propery.  I am in confusion Can i claim Insurance on Housing loan also under House propery.

 

Insurance on housing loan not deductible as a house property loss or under specified tax deduction provisions. The clarification states that insurance premium paid on a housing loan is not deductible; it cannot be claimed under Section 24 as a house property loss nor under Section 80C as a specified tax deduction, although interest on the housing loan may be claimed as a loss under house property provisions. (AI Summary)
Income Tax
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CAGOPALJI AGRAWAL on Apr 2, 2012

No, insurance can not be claimed either under section 24 or section 80C.

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