does personal loan help in getting tax deductions?

February 28th, 2010

I am planning to take personal loan for a two wheeler. Will it help me in getting any tax rebate ?

Related

Replys

  1. Princess - February 28th, 2010 at 8:36 pm

    No. You can only get tax deductions if you take a home loan.

  2. Niketha B - February 28th, 2010 at 8:36 pm

    NO

  3. apurav a - February 28th, 2010 at 8:36 pm

    As an individual assessee you can only get income tax deduction on housing loan.
    No you cant get rebate for taking loan for a two wheeler

  4. Lost in a Relationship - February 28th, 2010 at 8:36 pm

    No.

  5. extra_37 - February 28th, 2010 at 8:36 pm

    No. Unless its for business use. (not commuting)

  6. Reddy - February 28th, 2010 at 8:36 pm

    If the personal loan is taken for the purpose business/profession purpose then you can claim the interest and also depreciation. For other purpose no deduction will be allowed.

    Reddy

Leave a Reply