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-   -   Do we get tax rebate on Personal loans? (https://www.askmehelpdesk.com/showthread.php?t=300795)

  • Jan 8, 2009, 03:44 AM
    aradhana_001
    Do we get tax rebate on Personal loans?
    I took personal loan and I am repaying the instalments always on time.
    Will I get tax rebate on personal loan?
    If yes, will this be on interest charges paid per instalments as per according to the amortization schedule provided by the bank?
  • Jan 8, 2009, 05:32 AM
    MukatA

    No.
    Only mortgage interest payment on your main home or second home is deductible as itemized deduction.

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