Is Interest on Loan Taken For Payment of Earlier Housing Loan Allowed Deduction?

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Is Interest on Loan Taken For Payment of Earlier Housing Loan Allowed Deduction? Yes, section 24 allows the interest on the loan borrowed for the purpose of repayment of earlier loan. The Proviso under section 24 clearly states as under Provided also that no deduction shall be made under the second proviso unless the assessee…

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