About tax exemption on home loans

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DiogenestheCynic
Member since: Oct 04

Posts: 859
Location: At my desk
Post ID: #PID

Posted on: 28-02-05 10:33:58

Hi,

I was going thro the budget unveiled in India. One of the highlights says -

Quote:

"IT exemption on housing loans to stay".

Can someone please give some more details and clarify what this is about?

Thanks.

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Diogenes
====================
The Cynic

desi in ottawa
Member since: May 04

Posts: 1627
Location:
Post ID: #PID

Posted on: 28-02-05 14:16:36

As I understand, that means the interest on the home loan payment is tax deductible, just like in the USA. Not in Canada though.

DIO

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