Can interest paid on loans taken from friends and relatives be claimed as deduction while calculating house property income? https://www.taxtmi.com/manuals?id=4067 Interest paid on loans from friends or relatives is deductible for calculating income from house property only when the loan is used for purchase, construction, repair, renewal or reconstruction of the house; interest on loans used for personal or other purposes is not an allowable deduction. en-us Sat, 23 Dec 2023 13:09:00 +0530 Sat, 23 Dec 2023 13:09:00 +0530 TaxTMI RSS Generator Can interest paid on loans taken from friends and relatives be claimed as deduction while calculating house property income? https://www.taxtmi.com/manuals?id=4067 Interest paid on loans from friends or relatives is deductible for calculating income from house property only when the loan is used for purchase, construction, repair, renewal or reconstruction of the house; interest on loans used for personal or other purposes is not an allowable deduction. Manuals Income Tax Sat, 23 Dec 2023 13:09:00 +0530 https://www.taxtmi.com/manuals?id=4067