Is Loan Against Property Taxable?
A loan against property is a long-term financial commitment that can have tenures of up to 20 years. Its primary benefit is that it can help individuals meet multiple financial needs. In addition, it can also be tax-deductible for individuals. This is because home loans are deductible, as are commercial assets bought by businesses. This type of loan involves borrowing cash against your home and pledging it as collateral. The proceeds of the loan are not deductible as personal, school, or marriage expenses. While the principle repayment of a loan…
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